Broadly, central banks are protected by laws that offer long tenures to their leadership, allow them to focus policy primarily on inflation, and severely limit lending to the rest of the government.

This statement would suggest that the "source" of money in most countries is their central bank, and that money creation is subject to its whims and policies, regardless of those of politicians. This, for the vast majority (US, UK, Canada, and other major economic powers) is 180 degrees wrong.

No one "lends" the sovereign currencies to these governments to deploy resources and labor in their private sectors or to honor their obligations. The money required is simply spent into existence by their governments. The dual function of most central banks as clearing house for their government debits and receipts and their authority to determine rates and conditions applicable to private sector lending are not in any way connected.

The entire concept of a sovereign currency-issuing government needing to "get" money to enable its spending is at the heart of our vast income divide and the bedrock of the power capital has over the citizens and workers. It won't be fixed until those citizens manage to take back that power via their democratically elected government and stop believing the crap economics such is represented by this piece and most others by "mainstream experts".