Why: Because They
Are Ignorant Uninformed Bad Economists Don’t Want Mr. Obama to Succeed
|Ron Paul's Recurring Nightmare|
The Federal Reserve Board held its monthly meeting and
Now this was not exactly a strong response, given the rather dismal economic news that just keeps coming, but even this small effort to help the economy ran up against Conservatives on the Board. Three of them voted against the policy.
The Fed has what is called a “dual mandate” a mandate to support economic growth and to control inflation. Controlling inflation is not exactly a problem right now,
In fact, a dose of excess demand generated inflation would be real nice, about as nice as a couple of weeks of temperatures with highs in the 70’s. Right now, neither are going to happen. And if inflation does increase, it will be because of non demand related factors, like health care costs, education costs, and other inelastic demand items where demand is influenced by factors other than the overall strength of the economy.
|The Conservative Fed Agenda|