Posted on 09/04/2020 3:40:56 PM PDT by knighthawk
Federal Reserve Chairman Jerome Powell admitted last week at the “virtual” Jackson Hole symposium that the Fed has undershot its 2% annual inflation target consistently for the last several years.
The Fed is tacitly admitting that its deflationary monetary policy has restrained growth and held down wages.
Now the Fed is promising to aim higher in order to get more dollar liquidity into the economy.
(Excerpt) Read more at foxbusiness.com ...
We are near a breaking point of being over leveraged. Do they have a crystal ball to determine how long this petrodollar will last? How about Medicare Part A going broke and demanding all kinds of funny money to replenish the coffers around 2026? Also, Social Security is facing huge shortfalls around one to two years after that. Where is that “wealth” coming from? This is fine if you are projected to die comfortably in a debt fueled retirement scheme within 10 years, however, like a pyramid scheme, the new people get screwed not by their own hand but by selfish and greedy people who voted for the scheme/irresponsible spending/debt accrual long before the new ones were born.
As if saving have not been losing value fast enough. This will destroy them.
Inflation at any %age is NOT GROWTH! It just looks like growth because bottom lines get continually larger numbers. Inflation at any level is purely government tax on money.
You go ahead and grind your axe.....
My greedy ass has been paying in my whole working life... (no choice, you see) and my retirement age coincides with the collapse of the system.
Not only being shafted for being born at the wrong time, but also being subjected to the incessant WHINING of people who don’t want to contribute to the system at all.
oh, how very nice of the Fed to finally tell some truth.
I have made over 9% in bonds for over 2 years. The T Bill basis just went up today as well.
NO, you can just put money in CDs. Its DUMB.
Totally agree. But the world seems to run on deception.
We need to get rid of this parasite.
Trump has a bachelor's degree in economics from the Wharton School of the University of Pennsylvania. What am I missing?
$16 Trillion in debt is not the time to inject more liquidity into the economy.
I am surprised nobody has mentioned the endless media criticism of Trump for questioning the Fed before now that he admits Trump was right.
Will watch for that correction in 3, 2, 1, never.
Bump
Comment from the Fed; DAMN!
He’s got four more years, they’ll have to have a come to
reality moment at some point.
Trump appears to have Powell by the short hairs. If he didn’t, his re-election would be in serious jeopardy.
Wharton is not easy to get into. I am an MBA in economics, have studied with Art Laffer, and am continually impressed with President Trump’s grasp of macro, micro, and international economics.
Moonman62 was right, too.
The key to controlling inflation is economic productivity. Fed policy should be neutral.
One good thing about the China virus is that it ended the Fed’s latest war on the economy.
Trump appears to have Powell by the short hairs. If he didn’t, his re-election would be in serious jeopardy.
...
The Fed gave up their war on the economy because of the China virus.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.