The conclusion of the March Federal Open Market Committee (FOMC) meeting, on Wednesday, reiterates that low rates and perpetual increases to the money supply should now be considered permanent features of the economy. Federal Reserve Chair Powell would never say this explicitly, but the Q & A provides further clues that the Fed has unofficially committed to this path:
Last week, Senator Chuck Schumer reassured us eight times that “help is on the way.” Madame Vice-President and Speaker Nancy Pelosi both reiterated this stance. This should be cause for celebration! As Schumer said:
You will receive your $1,400 checks in a few weeks. Help is on the way. People are being vaccinated more quickly and more effectively than we ever imagined. Help is on the way.
Listen to the Audio Mises Wire version of this article.
Listen to the Audio Mises Wire version of this article.
Recently, while reading Liberalism: In the Classical Tradition, written by Ludwig von Mises in the year 1927, I noted a striking passage, right in the beginning on page 4:
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Earlier this month, House Armed Services Committee chairman Adam Smith (D-WA) said it’s time to “cut our losses” on the F-35 Joint Strike Fighter, and added, “I want to stop throwing money down that particular rathole.”
In the wake of the brutal murder of Sarah Everard, Boris Johnson’s government has fallen into the twin perils of modern conservatism in relation to policing: heavy-handed police tactics and promises of further spending. With the prime suspect being a police officer in the murder, UK confidence in state policing looks to drop even further than its current low standing.
