Lindsey Graham is the classic hysteric

 Always wanting government to have the last word, sort of the male Karen.  Powell needs to make the case for restricted security, security bound by provability. Controllable.

Powell is smart than we think, he is using the code words well.  But it is a collision.   Munchkin at Treasury is certainly interested but moot.  Sort of underneath it all looms you know what, fear of Nixon Shock. Not another repeat of 1971. Egad the 70s.  Even odd rationing.   Four rapid recessions in a row,  stagflation! This scares the hell out of the central bankers.

I take the longer view.  Four recessions and a steep climbing to CPI rising 15% a year!  But we didn't have a world war over it, or nuke anyone and we quit carpet bombing rice farmers.  I call that good enough compared to history.  We got through 2008 with oil prices at 140, escaped from a huge Bush debt hole.

I am optimistic, ex post  Just doing half as well is pretty good. 

Nor do I blame the hysterical central bankers, it was good enough in the 70s compared to prior boneheads who held the position.