The Middle Class Comeback
The middle class is the hallmark of the American dream and the backbone of a free and strong society. That dream has been shattered in recent decades for many Americans. Most of the media and politicians define the middle class by income, which has been stagnant at best or declining at worst for the average American. However, it is the cost of living as well as higher taxes that are larger factors adversely impacting the middle class. Moreover, government policies have exacerbated the mi...
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Published on August 28, 2019 13:10
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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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