This goes against what every Fed Chairman that did in the past to curve inflation.
This means prices will go up, and Americans standard of living will go down.
What do they care? They’ll never go hungry, like plenty of “little” people will.
Especially those on fixed incomes.
Trying hard to kill what’s left of the economy before November.
They will be bringing a giant sucking machine into your savings account.
Time to invest in gold or real estate.
Two words: Gold Standard.
Contrary to the very mission of the Fed, which is to ensure the stability of the currency. A (historically low) inflation rate of 3% will halve the value of the currency in 24 years, and make $1.00 worth about $0.06 in a century - which is about what the Fed has done, if not worse.
The Fed has failed its primary (public) mission (and what it’s REAL mission was/is has probably never been released to the public - but it is not federal, doesn’t have reserves, and isn’t a bank, though it is owned by banks). What Powell is doing is only ensuring that this failure will continue, if not accelerate.
If you are working and get salary and wage increases to match, you’ll come out ok. Retirees on fixed incomes are the ones that really get screwed, especially if they are renters.
The number that cannot go up is the interest rate. If that goes up to 1970s levels the country will go broke REALLY fast.
Well prices in general have doubled/tripled on most things in the past 20 years while quality has gone down.
If that was deflation, I can’t wait for inflation.
So he prints a few Trillion extra to see us through the Covid 19 shutdown and NOW he admits we might have a little bit of inflation? Econ 1 exam question: When more money is chasing less goods and services prices do what?
The deep state is not finished with us yet.
Per Algore:
“What is up, should be down and what is down should be up...”
Fire up the Printing Presses, we all gonna be rich!! Did he comment on any plans to add a ZERO to our currency in January??
I assume we really have too much deflation.
It kills savers and bails out the indebted.
And erodes the value of those holding the public debt.
Of course they will deliberately stimulate inflation.
If they can anymore.
I thought they were already trying with everything they already have. Negative interest rates. Hell, they’ve even resorted to helicopter money. Stock market intervention. Purchase of private debt.
What else is there? Uh oh...
Universal debt holiday.
They are afraid that deflation will be good.
The FED always wants inflation. Who are they kidding?
Time to buy TIPs treasuries?
The Dems would rather rule in Hell than serve in Heaven. We all had better know this.
Everyone is going to pay for this China Virus except those who caused it.
Its just fiat money anyway
Backed by the good wishes of tbe bankers and unicorn farts
The dollar today is worth about a penny if you go far back enough