Lost in the media's obsession with the impeachment circus last week was Federal Reserve Chairman Jerome Powell's testimony on the state of the economy before the Joint Economic Committee.
Hopefully, Powell is correct that when the next recession hits the Federal Reserve and Congress will be unable to "Stimulate" the economy with cheap money and new spending.
When the Federal Reserve and Congress try to stimulate the economy, they introduce new distortions, making it impossible for the economy to heal itself.
The best thing Congress and the Federal Reserve can do to help the economy recover from a recession is nothing.
Powell is the latest Federal Reserve Chair to warn of the dangers of government debt, which is ironic since the Federal Reserve is the great enabler of deficit spending.
This inflation tax does not affect the financial elites-who receive new money created by the Federal Reserve before the Fed's actions have diminished the dollar's purchasing power-but has hurt middle-and-working class Americans whose purchasing power is continuously reduced by the Federal Reserve.
The Federal Reserve is responsible for the growth of government, the loss of liberty, the rise in income inequality, and the boom-and-bust economic cycle.
http://www.ronpaulinstitute.org/archives/featured-articles/2019/november/18/federal-reserve-enemy-of-liberty-and-prosperity/
Hopefully, Powell is correct that when the next recession hits the Federal Reserve and Congress will be unable to "Stimulate" the economy with cheap money and new spending.
When the Federal Reserve and Congress try to stimulate the economy, they introduce new distortions, making it impossible for the economy to heal itself.
The best thing Congress and the Federal Reserve can do to help the economy recover from a recession is nothing.
Powell is the latest Federal Reserve Chair to warn of the dangers of government debt, which is ironic since the Federal Reserve is the great enabler of deficit spending.
This inflation tax does not affect the financial elites-who receive new money created by the Federal Reserve before the Fed's actions have diminished the dollar's purchasing power-but has hurt middle-and-working class Americans whose purchasing power is continuously reduced by the Federal Reserve.
The Federal Reserve is responsible for the growth of government, the loss of liberty, the rise in income inequality, and the boom-and-bust economic cycle.
http://www.ronpaulinstitute.org/archives/featured-articles/2019/november/18/federal-reserve-enemy-of-liberty-and-prosperity/
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