Apparently all it takes to be “successful” as the Fed Chair is to set rates at zero and keep them there... forever.
Why do we have a Federal Reserve at all, if this is the case? Why not just set rates by law to zero and eliminate the expensive middleman?
If we did that, it would be one component of Sharia lending practices.
I can tell anyone how to hit a baseball or to play the outfield, but this stuff I leave to others.
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PS ..... can anyone suggest a rather simply written book that explains all this financial/money crap?
” Why not just set rates by law to zero and eliminate the expensive middleman?”
Or even better, have some medium of trade that lets you know the fixed value of a dollar. Then let the market determine interest rates.
There must be something we could use. Maybe it was written about by our founders even...Along with warnings about a banking establishment controlling the money system of a nation instead of Congress. /s
It is strange how on one hand the progressives want an active Fed throwing toxic assets on their balance sheets and depressing interest rates below inflation, then on the other hand they complain about wealth inequality. So active Fed pushes asset prices above would be market prices, yet they hate the rich. Do they not realize who owns the assets and profits off the peasants loading up on debt to buy their Chinese made crap.