[Spartan-S63]

I really wish we had other tools than the Fed at our disposal. Legislation could be passed to create surtaxes on profits that exceed the current rate of inflation to help curb the inflation spiral. Likewise, we could pass legislation restricting the ability of private banks to grant lines of credit (so as to shrink the money supply on the supply-side rather than the demand-side). Either way, it would be nice to see the supply-side take a hit in this circumstance rather than the demand-side. Hit the asset-holding classes harder than the wage-earning classes. Ultimately, it's the asset-holding class that got us into this disaster in the first place.

[mullingitover]

> I really wish we had other tools than the Fed at our disposal.

The fed is basically a team of scientists when it comes to monetary policy, and meanwhile congress is essentially warring factions of drunk, catty sorority girls when it comes to fiscal policy. It's unfortunate.

If instead of the massive tax cut passed in 2017 we had passed a 2 trillion dollar infrastructure spending bill (and I'm talking 2 trillion in additional infra spending, not the watered-down "1 trillion" that included routine spending) we could've been on a solid footing for supply capacity that could've fought inflation without targeted killing of the working class.

[refurb]

Likewise, we could pass legislation restricting the ability of private banks to grant lines of credit

That’s already happening. Bank reserves are being tightened up. Plus banks do that anyways when economic outlook looks poor.

I think it would be terrible to legislate any of this. The fed is already under enough political pressure.

Can you image politicians trying to control the economy? They’d screw it up for sure.