More on Judy Shelton

From John Tamny at RealClear Markets: "The economics profession is increasingly ridiculous, and so is the Fed ridiculous." Re interest rates and the Fed’s role:
Shelton is too smart to believe that price controls work. That’s why her modern stance in favor of so-called Fed ease is so easy to read as politics in play. If we ignore what’s true, that the Fed can’t control access to credit in the first place, the idea that it could expand credit access by lowering the Fed funds rate is as silly as the belief that artificially low apartment rent controls will lead to apartment abundance. No, not at all. And the Fed can’t create easy credit. Shelton knows this. Politics is once again at work, and that’s ok. The Fed has long been a politicized institution, and so it remains under President Trump. It says here that Shelton doesn’t need to compromise her views on the dollar and interest rates, but she knows her own situation better than yours truly.

1 comment:

ymarsakar said...

Since the media aren't allowed to talk about this issue due to the American Deep State, I'll let the cat out of the bag.

The Federal Reserve is not a federal political organization. It is a private banking cartel of individuals, who your PResident is NOT ALLOWED to fire or interfere with. Keep that in mind. Your most powerful whatever guy on Earth, is not allowed to fire or interfere with them.

The US Treasury gets a kickback from allowing the Fed Reserve to control AMerica's economy, interest rate, and fiat currency printing.

Which nation thought it was a good idea to let potential foreigners and traitors do that with no oversight whatsoever? Americans. This is how the world order keeps control of the upstarts. The aristocracy could not, nor could the Organized State Religions, but banking could and did.

The nice thing about Trum is that he demonstrates many of my points. No other President would have even dared to think about firing a Fed cartel board member.