Will the Fed's money printing, manipulated economy, finally be exposed in Congress?
Domestic Monetary Policy Subcommittee Chairman Ron Paul announced today the Subcommittee will meet for a hearing to examine the impact of Federal Reserve policies on job creation and the unemployment rate. The hearing will be held on Wednesday, February 9th at 10 am.
Subcommittee Chairman Paul said, “I’m very pleased to hold our first subcommittee hearing in the new Congress on a topic that could not be more critical, namely unemployment. Despite enormous amounts of monetary and credit expansion by the Federal Reserve in recent years, the nation’s unemployment picture remains bleak. While many focus on the impact of fiscal policies on employment, the effect of monetary policy often goes unexamined. In my view we are now experiencing the bust that inevitably results from the misallocation of capital and human resources in a period of artificially cheap credit. It is important to understand the Federal Reserve’s role in creating today’s unemployment crisis, while also highlighting that high unemployment and low economic growth can persist even in the face of tremendous monetary inflation.”
The hearing is entitled Can Monetary Policy Really Create Jobs? It will focus on the Fed’s recent actions, the likelihood those actions will reduce unemployment, and the critical role of the private sector in job creation..
Mr. Paul's education of the USA electorate continues. He knows that the Fed will not be abrogated tomorrow. Education is this man's forte. The more people see that the Fed is run by the elite the better the future generation has in defeating this monstrosity. It is too late for us old farts. The new educated children will have to take up the banner. "Truth is the daughter of time".
ReplyDeleteCheers.
I thought US tried that experiment in the 70's. That's how the Fed GOT its dual mandate of full employment AND stable prices. (in 1974 or 1975) In the 70's, the Fed tried and US got NEITHER full employment nor stable prices.
ReplyDeleteI mean it will work for a short amount of time until the market catches up to the Fed's antics. Then the party will be all over.