From the article:
“One of the outside the box ideas suggested by Yellen is increasing the Fed’s ability to intervene in markets by purchasing assets of private companies ….
“Increasing the Federal Reserve’s ability to purchase private assets will negatively impact economic growth and consumers’ well-being. This is because the Fed will use this power to keep failing companies alive, thus preventing the companies’ assets from being used to produce a good or service more highly valued by consumers.
“Investors may seek out companies whose assets have been purchased by the Federal Reserve, since it is likely that Congress and federal regulators would treat these companies as “too big to fail.” Federal Reserve ownership of private companies could also strengthen the movement to force businesses to base their decisions on political, rather than economic, considerations.”
Yellen is already out of her box. Imagine the day when the Fed has been granted “authority” to buy entire industries. After all, since they are the sole issuer of “money,” and whatever they so designate is “money,” could they not buy, for instance, the entire list of fracking companies, shut them down on “environmental” grounds, and demand that any additional energy production be done by “solar farms” or windmills? What mischief could they not foster, since they answer to no government?