It's hard to overemphasize how important Ford's deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example har… - Alan Greenspan

(thirty-one of the first forty U.S. Post Office pilots were killed in the first six years).

These immigrants were an undoubted plus for the economy.5 They were disproportionately young adults with few dependents and a drive to make it. They were all by definition adventurers who were willing to risk an ocean voyage to a new world for a chance of a better life. They provided the hands and muscles that built the machines, roads, and bridges of a rapidly industrializing nation:

The Federal Reserve is an independent agency. And that means basically that there is no other agency of government which can overrule actions that we take. So long as that is in place, and there is no evidence that the administration, or congress, or anybody else is requesting that we do things other than what we think is the appropriate thing, then what the relationships are don't frankly matter. And I've had very good relationships with presidents.