Fed Chair Jerome Powell apparently doesn’t see the pernicious effects of inflation
At one time, the Federal Reserve’s sole mandate was to maintain stable prices and to “fight inflation.” To the Fed, the financial press, and most everyone else “inflation” means rising prices instead of its original and true definition as an increase in the money supply. Rising prices are a consequence – a very painful consequence – of money printing. Continue reading “The Fed’s “Inflation Target” is Impoverishing American Workers”
