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The Fed Is Making Things Up as It Goes Along
The Fed Is Making Things Up as It Goes Along
Posted on 12/24/2022 by EraOfLight —
The Federal Reserve would like you to think that it is scientifically guiding the economy with carefully calculated monetary policy.
The truth is the Fed is making things up as it goes along.
As Mises Institute senior editor Ryan McMaken noted in a recent article, Federal Reserve Chairman Jerome Powell has admitted that the central bank doesn’t know what it will do in 2023. And if you look at the herky-jerky path we’ve been on the last few years, it should be clear it hasn’t had a clue the entire time.
As Peter Schiff put it in a recent podcast, the Fed is oblivious.
They still think that we have a robust economy. They still think that inflation can be brought under control and that everything is going to be fine. … They are completely oblivious to the disaster that they have created in the same way that they were completely oblivious to the 2008 financial crisis even in the summer of 2008 when the crisis was just around the corner. They have no clue that what they’ve been looking at is just the mother of all bubbles.”....+ @ https://eraoflight.com/2022/12/24/the-fed-is-making-things-up-as-it-goes-along/
Posred here by https://rayviolet.blogspot.com/
Posted on 12/24/2022 by EraOfLight —
The Federal Reserve would like you to think that it is scientifically guiding the economy with carefully calculated monetary policy.
The truth is the Fed is making things up as it goes along.
As Mises Institute senior editor Ryan McMaken noted in a recent article, Federal Reserve Chairman Jerome Powell has admitted that the central bank doesn’t know what it will do in 2023. And if you look at the herky-jerky path we’ve been on the last few years, it should be clear it hasn’t had a clue the entire time.
As Peter Schiff put it in a recent podcast, the Fed is oblivious.
They still think that we have a robust economy. They still think that inflation can be brought under control and that everything is going to be fine. … They are completely oblivious to the disaster that they have created in the same way that they were completely oblivious to the 2008 financial crisis even in the summer of 2008 when the crisis was just around the corner. They have no clue that what they’ve been looking at is just the mother of all bubbles.”....+ @ https://eraoflight.com/2022/12/24/the-fed-is-making-things-up-as-it-goes-along/
Posred here by https://rayviolet.blogspot.com/
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