Core viewpoints of "Restoring the True Federal Reserve":

1. The Federal Reserve is not a private bank, nor does it belong to the U.S. government. It is an independent public policy institution, and its independence forms the basis for ensuring monetary policy is not subject to short-term political interference.

2. Quantitative easing is not "printing money"; its essence is the Federal Reserve adjusting the structure of its balance sheet, lowering long-term interest rates and stimulating the economy by purchasing long-term government bonds and other means.

3. The Federal Reserve's 12 regional reserve banks are not its branch offices but are institutions with independent legal status, forming a structure of checks and balances together with the Federal Reserve Board.

4. The Federal Reserve's function as the lender of last resort is to address liquidity crises in financial markets, preventing the risk of a single financial institution from spreading into a systemic financial crisis.

5. The Federal Reserve's monetary policy affects the global economy through channels such as exchange rates and capital flows. Economic fluctuations in emerging market countries are often directly linked to the Federal Reserve's policy adjustments.

6. The Federal Reserve's policy objectives are to maintain price stability in the long term and to balance full employment in the short term. The balance between these two objectives is the core basis for its monetary policy formulation.