Why didn't the #Fed have a 2% #inflation target during the decades when inflation ran above 2%.? Why did 2% only became the inflation target during the relatively few number of years when inflation ran below 2%? The policy wasn't a real target but an excuse to create inflation.
@PeterSchiff "The policy wasn't a real target but an excuse to create inflation." How does the FED benefit from that thesis?
@PeterSchiff Yes they want to ensure inflation boosts the value of assets like housing so consumers will favour them over other investments, housing never goes down right. You wouldn’t borrow $1M for a house otherwise because risk, debt burden, stress.
@PeterSchiff “Inflation makes the wealthiest people richer and the masses poorer.” — James Cook
@PeterSchiff If only there were signs x.com/dharmatrade/st…
@PeterSchiff If only there were signs x.com/dharmatrade/st…
@PeterSchiff smoke and mirrors the whole time 👽🤔☁️🪞
@PeterSchiff Its interesting to note that a central bank targeting an inflation rate was invented in New Zealand, but the NZ target rate was 3%, not 2%.