Could Americans be any worse off without the Fed?
They don’t know what they are doing. They cause problems and destroy the economy to”save” it. Then they move the goal posts and cherry pick so they can claim they accomplished something.
Why are Americans letting these unelected incompetent boobs destroy American prosperity?
Good question.
I expect some of it has something to do with the fed always being the familiar status quo within most citizen’s lifetime. And maybe some variant of normalization bias. Maybe.
The Fed knows what it is doing...making big dollars for its owners.
Fed wins every time.
They don’t know what they are doing. They cause problems and destroy the economy to”save” it. Then they move the goal posts and cherry pick so they can claim they accomplished something.
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They fantasize about being Paul Voelker and slaying stagflation in the wake of the OPEC oil embargo.
Of course the situation is completely different. We at the dangerous end of a delationary period now, not the beginning. The danger zone here is depression, not runaway inflation.