Er deutet an, die Fed wäre von Amerikas ach so mächtiger progressiver Bewegung eingeschüchtert geworden, die der Professorin (und Wissenschaftlerin) Stephanie Kelton von der Stony Brook University hörig war.
He seems to suggest that the Fed was intimidated by America’s oh-so-powerful progressive movement, which was in thrall to a Stony Brook University professor (and lifelong academic) named Stephanie Kelton.