[Pelham]

Even more disconcerting may be the fact that during the past two years, the Fed not even once mentioned the word “money” in its official press releases at the conclusion of each Federal Open Market Committee meeting. One must ask how an institution charged with the control and implementation of monetary policy can be so negligent and dismissive of the key asset—money—over which it exercises total control, and which is at the fulcrum of the implementation of monetary policy. How long does it take to change an irrational policy that is clearly inconsistent with the congressional mandate for price stability?

Just like Arthur Burns, the current Fed leadership is ignoring the sharp increase in the money supply during the past two years and instead is blaming external factors. As a result, inflation is again soaring. History is repeating itself.

Milton Friedman will be turning in his grave.

[Pelham]

ping

[MeneMeneTekelUpharsin]

Truth

[Toddsterpatriot]

One must ask how an institution charged with the control and implementation of monetary policy can be so negligent and dismissive of the key asset—money—over which it exercises total control,

Not total control.

[bk1000]

Pull $trillions out of their backside, hand it out to people and the money loses value. Who could have seen that one coming?

[BiglyCommentary]

Crypto currencies keep being created out of thin air, adding to the money supply.

[Sequoyah101]

It was a bad time (late 70s)to be starting out in life...fortunately I was in the oil business. We knew all about inflation but the money was running fast and loose until ‘82 for some and ‘86 for me and others. Then came 13 hard years of trying to survive for better days.

I was lucky to get our first house for 13%. The second one in 80 was about 9%. The third one in ‘82 was about the same. I really don’t recall what it was, it was unremarkable. Eventually we got about a 6% mortgage in ‘96 or so. I’ve never borrowed money again since.

I did buy 20% bonds in ‘83 or ‘84. Wow!