5 Comments
Mar 21Liked by Peter Nayland Kust

Generally, this administration hides behind incompetent when it is malicious, but I don't think that is Powell's problem, he is incompetent (although his staff are still up for a question).

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The Federal Reserve is structurally malicious in its policy formulations.

When you look at their commentaries about the economy, they are overwhelmingly market-oriented. They demonstrably favor Wall Street over Main Street (which makes their "full employment" mandate a perverse joke).

Ultimately, the Fed is both incompetent AND malicious.

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Mar 21Liked by Peter Nayland Kust

These people in their insulated,cushy Fed jobs are out of touch with America. They seem to be oblivious to how thoroughly the middle class has eroded away, and how painfully half of America is struggling. Thank you once again, Peter, for irrefutable data proving their incompetence.

If you’re in the middle of moving, I will spare you my usual questions, and just wish you much happiness in your new home!

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Mar 21Liked by Peter Nayland Kust

You are correct: Main Street is Not Happy. The price of just about everything is still very high with some prices STILL increasing.

Except for the wealthy elite, Americans are broke. Plain and simple.

If I had one word to describe the Fed/Powell it would be Hapless and that’s me being nice. Abolish it.

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Hapless works. Myself, I go with "incompetent" when I'm not going with "malicious".

But it's all ending up in the same place. The entity tasked with ensuring "full employment" is unable to produce it.

Central banks are the cause of most of the global economic woes we are facing. Frankly they should all be abolished.

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