The Federal Reserve will conduct an extensive review next year of how it tries to guide the U.S. economy, the U.S. central bank said on Thursday.
“Now is a good time to take stock of how we formulate, conduct, and communicate monetary policy,” said Federal Reserve Chairman Jerome Powell, noting that the Fed was close to meeting its goals of maximum employment and a 2 percent inflation rate.
In a statement, the Fed said it would reach out to a “broad range” of stakeholders and that it planned to host a research conference in June to support the review. The research conference will be held at the Federal Reserve Bank of Chicago.Admission that current policy is not working?
Reuters
Fed plans major review of how it pursues inflation, employment goals
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ReplyDeleteOFF TOPIC
David Asman of Fox News wants to swindle you by appealing to your FEAR and GREED. [These two feelings are twins. You never find one without the other. They are yin and yang, each creating and sustaining the other.]
The fear factor occurs in Asman's lie that Social Security is “insolvent.” The greed factor occurs in Asman's lie that you would get far more in your retirement if Social Security was privatized (i.e. given to Wall Street thieves).
Such swindles are Satanic. “God will damn you for eternity! Worship me, and you will live in splendor forever!”
“By now we should all realize that Social Security is one of the biggest frauds going.” ~ Asman
No, one of the biggest frauds going is the false claim that Social Security is “one of the biggest frauds going.”
“Look closely at those figures. Ask any broker how much better your investment would be if that money had been invested outside the government's system.” ~ Asman
That is, you would be in paradise if $1.5 trillion a year in FICA tax revenue flowed straight to the thieves of Wall Street, as would happen if Social Security was privatized.
“If the same savings had been put in an equity fund that tracks the broad stock market averages (such as the S&P 500) instead of Social Security, your return on retirement could easily amount to five times that amount over a lifetime. Even if you had put your savings in safe government bonds, you could be assured of annual retirement returns of two to three times what Social Security returns pay out.” ~ Asman
Of course, when the stock market inevitably crashes, you lose everything. Welcome to the miracle of the “free market.”
”Instead, a Heritage Foundation study found that the inflation-adjusted, average annual return of Social Security savings comes to a paltry 1.23 percent.” ~ Asman
The Heritage Foundation is 100% neoliberal. They never lie, do they?
The same Heritage Foundation study found that for low-income folks, the inflation-adjusted return can end up being negative; that is, those who can least afford it end up getting paid less than they and their employers paid into their SS accounts over the years.” ~ Asman
LIES. FICA taxes do not pay for Social Security. SS benefits are created out of thin air when the Social Security Administration credits SS beneficiaries’ bank accounts. The liars claim that SS will short-change middle income people, and will outright rob poor people, as though the liars care about the poor.
The rest of the article is more of the same lies. More of the same Satanic appeal to the peasants’ greed and fear.
https://www.foxbusiness.com/personal-finance/social-securitys-ultimate-insult
”In a statement, the Fed said it would reach out to a “broad range” of stakeholders and that it planned to host a research conference in June to support the review"
ReplyDeleteI wonder who are those stakeholders... maybe US citizens? No, I guess they are talking about the major banks club only...
Well, Fed can't exactly give fiscal recommendations to congress; It would be impolitik.
ReplyDeleteI wonder who are those stakeholders... maybe US citizens? André
ReplyDeleteOne good thing about the total abolition of physical fiat, i.e. coins and bills, should it happen, is that then citizens shall NOT be able to use their Nation's fiat AT ALL but instead must work through one member of a government-privileged usury cartel or another.
Then the issue shall be starkly revealed as a civil rights issue with almost all, if not all, of the MMT crowd having been on the wrong side of it.
How ashamed they'll be then, those who respect every other civil right but NOT the right of a citizen to use his/her own Nation's fiat.
They wouldn’t want me there....
ReplyDelete