Foreign Policy
America faces a paradox when it comes to foreign policy. US domestic politics engender short-term, tactical thinking based on election cycles. Foreign policy, on the other hand, calls for a long-term strategic vision. Washington seems to view foreign policy as if it were short-term in nature. Perhaps this explains why our leaders are so obsessed with the cult of personality, focusing on Saddam Hussein, Kim Jong-Un, Mahmoud Ahmadinejad, or Fidel Castro. This mindset plays well at home but har...
Published on August 28, 2019 13:11
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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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