Immigration
Excerpts from Confessions of an Old Man
“America is not just a country, it’s an idea.” Bono
Fearmongering is one of the most potent cards politicians hold in order to get elected, whether there is any substance to the rhetoric or not. American politicians are no different. Some American politicians hold the most powerless people in society responsible for any bad decisions they make, whether it involves the economy or national security. The fear of immigrants has been exploited since the 9/11...
Published on August 28, 2019 13:18
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Fed Chair Powell Asked for Inflation and Now He Owns It
In March 2020, Federal Reserve Chairman Jerome Powell (Fed Chair Powell) was concerned that Inflation was not hitting the target of 2%, but falling further. Well, his wish finally came true. Inflation
In March 2020, Federal Reserve Chairman Jerome Powell (Fed Chair Powell) was concerned that Inflation was not hitting the target of 2%, but falling further. Well, his wish finally came true. Inflation in April 2022 was at 8.3% (Fig.1), the highest in the last 40 years and well above the Fed’s target. However, the Federal Reserve with J. Powell as its chairman, continued to print money and kept interest rates (Fed Funds) to almost zero. The Federal Reserve (Fed) serves as the central bank of the United States and is an independent government agency.
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