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by fny
1433 days ago
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> Do you concede that inflation robs people of purchasing power? That's the most important point from that. It's not supposed to. The policy rate is supposed to match the inflation rate on average. When the fed says 2% inflation target it also implies that the fed funds rate should be at 2%. Most of the runaway inflation you're seeing today is because the *government* spent way, way too much money which put a massive strain on limited resources. Blame the CARES Act + American Rescue Plan. You want to see corruption and pork spending? Look at the $3 trillion in deficit spending across the Trump and Biden administrations. |
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