What about the Generations to Come?
Excerpts from Confessions of an Old Man
“Americans are too broke to retire”
American politicians proclaim they’ll do everything for the American children and the next generation while robbing their future. The MI generation has been asked to pay for their own retirement as well as for their parents’ and grandparents’. Here is the challenge: more than 60 percent of the MI generation had less than $1,000 in their savings accounts as of 2016. With that reality, how are they supposed to accumulat...
Published on August 28, 2019 13:03
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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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