You might find this podcast I just shared interesting. I am not sure why Reich being lumped in with progressive politicians bothers you but he has long been associated with them and many of them use his content / ideas. I don't see any issue with the quote you pulled.

I would be shocked if Reich ever mentioned the Federal reserve in a way Austrian economists would agree with him on. Many progessives are critical of the fed. That isn't what the quote you cited says. Its that he doesn't correctly diagnose the feds role.