Can't hit the Fed's mythical 2% inflation "target" thanks to the uniparty's drunken-sailor spending and the Fed's expansion of the money supply? No problem: just come up with another BS "target." The Fed has dropped all pretense of "fighting inflation."
https://finance.yahoo.com/news/bessent-sees-room-future-revamp-165442050.html
Posted by Key_Brief_8138
4 Comments
Precious metals are calling bullshit on the Fed’s monetary malpractice.
[https://www.kitco.com/price/precious-metals](https://www.kitco.com/price/precious-metals)
Ok…? Doesn’t effect anyone but poor losers anyway. Any decent job has its salary indexed to inflation and anyone remotely smart with money has their savings earning many multiples of 2% annually. Just don’t let the conspiracy types convince you to put everything into gold (or worse, silver) because that literally only ever outperforms the stock market during recessions.
The only reason the target is 2% is because New Zealand was the first to set a target and they chose 2%. People have discussed moving to 3% or something else. The problem is. Until you’ve been back at 2% for awhile you can’t change the goal or people will doubt the motives
It probably should be 2.5 or perhaps even 3% to give he Fed room to move down in recessions. But he knows they will cause inflation, and also want to use inflation as a way of reducing debt.