No. Part of the dual mandate is stable prices. Two percent inflation is not stable prices. Your money losing half its value in 36 years is not stable prices.
Must of . . . ???
I thought the stagflation of the 1970s and the low inflation growth of the 1980s had finally killed the Pillips curve. Inflation is not a sign of a healthy economy. In fact, the natural state of the economy is slightly deflationary to match the increase in productivity. One dollar should be able to buy a little more in ten years than one dollar today because people will be more productive on average. Anything above that is a sign that those controlling the printing press are skimming some unearned income from the economy.
“Must of?”
Really?
Whether it be the EPA, the Dept. of Energy, or the Fed, it is clear that appointed ideologues have great power and are harming the American people. This ceding of major policy decisions to the unelected and unaccountable is a serious flaw in our republic.
Matthew O’Brien is a economic illiterate, to start with. He’s also cheerleading an idiot (Charles Evans) who looks the part, BTW, and who wants to reignite inflation. It’s a leftist Keynesian screed, to be sure.
The Fed is and has been a disaster. It is the only employer in the U.S. that can and does punish employees if they get sick or injured on the job.
Must have read. Must HAVE read, not must OF read.
We are letting you off with a warning this time, but next time you may not be so lucky.
(Signed)
The FR Grammar Police
All the stimulus and quantitative easing in the world will not work when regulation is overwhelmingly oppressive and the Federal government is holding a gun to the heads of American small business with the combination of heavy-handed regulatory enforcement and excessive taxation.
Mr. Evans is applying academic theory to a street fight. He needs to come out of his castle and try to understand the reality of what is happening to folks on the street.
So this guy’s biggest fear is deflation?
Inflation is an assault on the purchasing power of the dollar,a destruction of capital, and a redistribution of wealth from creditors to debtors and from new, late holders of money to older, earlier holders of money. It results in economic decline and decay,decrease in total productive ability and decreased accumulation of capital,decrease in the real rate of profit, and the impoverishment of wage earners.
Discussion about Federal Reserve policies is an exercise in programmed ignorance. It is not a Federal institution. It is privately owned and most of the owners are foreign banks. Yet they print our money and dictate the health of our economy. The Fed is nothing but a monetarist swindle cartel and needs to be disassembled in the next 10 minutes. Read the book “The Creature from Jeckyl Island” to see how globalist banking elites play us for suckers and fools every day of the week.