The US Federal Reserve's independence is threatened by its shift from a lender of last resort to an 'immediate resort,' according to Mint. The article argues that the Fed's expanded interventions in recent crises, blurring the lines between liquidity support and bailing out insolvent institutions, risk moral hazard and undermine its credibility. Maintaining a clear distinction between temporary aid and protection for failing entities is crucial for preserving the Fed's independence and sound monetary policy.