Fed–Treasury Merger War

By unifying the Fed and Treasury on a single sovereign balance sheet, reformers would collapse central bank 'independence' into fiscal control and treat money and debt as one instrument. This reframing would reset rate-setting, debt management, and accountability for inflation and growth. — Central bank independence is a core democratic and economic norm; a merger would reallocate power over interest rates, deficits, and market stability, forcing a public reckoning over who is accountable for inflation and financial conditions.