The Fed

What if we could have eavesdropped on a conversation between Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen? It might have gone as follows....

Sponsored by Nicholas Maier.

Sponsored by David and Suzanne Britton-Ohl.

Sponsored by Mark and Mirella Monoscalco.

Includes awarding the 2024 Mises Institute Peterson-Luddy Chair in Austrian Economics to Dr. Jeffrey Herbener.

Sponsored by Murray and Florence Sabrin.

When the bankers called for a central bank in the US, they claimed to only want a way to stop bank runs. It turns out that they wanted—and got—much more. The permanent regime of inflation and asset bubbles is the result.

The Fed’s specialty is propaganda through data, with a long record of failure. This is by design. Their communication tools must work in overtime, particularly in the face of a decision like this, to avoid “spooking markets”, though this veneer is easy to see through.

Banking systems around the world have huge effects on our lives, yet few people understand how banks work. Worse yet, even fewer understand the malign powers of central banks and how this system undermines economies. Thus, it is important to demystify these systems.

The Fed is desperate for you to think that “this time is different.” Unfortunately, Powell can’t seem to come up with explanation of why that is the case.