This Explains a Lot!
The Fed doesn’t understand inflation. Janet Yellen has even apologized for the Fed’s cluelessness. The Fed has missed all the biggest financial calamities of our time, like the dot com bubble, the mortgage meltdown, and the return of inflation to levels last seen 40 years ago.
How can this be explained?
Clearly, the monetary authorities don’t understand the stabilizing role of an honest precious metals currency. Congressman Ron Paul once asked a Fed chairman in congressional testimony if gold was money. No, replied the chairman. Well, asked Paul, if it’s not money, then why does the Fed keep so much of it?
The chairman’s non-explanatory explanation: It’s traditional.
And now with inflation running hot for at least 20 months, and over 8 percent annually month after month, the Fed still hasn’t gotten a handle on things.
So maybe this explains things.
A study from Independent Review finds that Fed board members are heavily tilted to the left. The ratio of Democrats to Republicans is 48.5 to 1.
It is a trend that keeps on trending. According to the study, among the Fed’s countless PhDs, the younger economists are even more likely than the older ones to be Democrats.
But here’s the kicker. The study’s examination of papers and speeches by Fed officials came to this woeful conclusion: “Research and speeches by the Fed economists are increasingly focusing on climate change, gender, race, and inequality.”
That explains a lot.
Climate change. Gender. Race. Inequality.
Or as summed up by the Unleash Prosperity Hotline, “The Fed can’t stop inflation, but they CAN change the earth’s temperature.”