Ron Paul: The Fed Is the Enemy of American Workers

As Ron Paul pointed out in a recent article, it hurts the average American worker the most.

The following article by Ron Paul was originally published by the Ron Paul Institute.

The continuing inflation has led the Federal Reserve Board to suggest the Fed will start increasing interest rates earlier than previously announced.

The Fed may also break with its practice of only raising rates by 25 basis points at a time and increase rates by increments of up to 50 basis points.

The increases the Fed is discussing would still leave interest rates at historic lows.

Workers may see their nominal pay increase while the Fed-produced price increases cause real wages to plummet.

In contrast, the Federal Reserve's money creation benefits crony capitalists who receive the new money created by the Fed before the injection of new money causes prices to rise.

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