I have no idea what Willaims is attempting to claim the Fed can do to achieve this mandate of "shared prosperity," given the way it currently operates.“We talk about monetary policy and interest rates and things, but really the Fed has a broader mandate for shared prosperity.”— New York Fed (@NewYorkFed) July 8, 2019
—John Williams, President and CEO, @NewYorkFed. #FedListens pic.twitter.com/CcDfxQAs7r
The Fed is about taking care of the elite. This is why they manipulate the money supply and interest rates, to prop up the capital goods sector during the boom phase of the boom-bust business cycle.
Williams is pretty close to babbling total nonsense here, beyond normal Keynesian nonsense.
-RW
Sounds like everyone is sipping the Trump Koolaid!
ReplyDeleteNow that’s some serious propaganda. Is the Fed trying to keep itself viable in anticipation of US politics going full social justice socialism?
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