Do you for a moment think the top folks at the Federal Reserve really know what they are up to? Think again.
Just a few illustrations of “expert” recent missteps: The Fed provided too much liquidity in the early 2000s that helped lead to the 2008 financial meltdown with subprime mortgages.
In attempts to overcome the current recession the Fed again is providing extraordinary liquidity that is tracking for the U.S. what has led to the current Greece/European crisis.
The Fed’s estimating of CPI or cost of living appears to be purposely misleading; it leaves out items we spend for when we daily shop and travel.
Viewing the Fed’s Open Market statements of policy we see lots of past and future meddling. And poor longer term economic forecasts compared to private economists.
Moreover, alerting the public in advance and transparency is poor economics.(See the Earl J Weinreb NewsHole® comments.)
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