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by MountainHoliday 1148 days ago
Central banks were designed to suppress wages. This is where we get the 0 to 3% target. It will erode wages and the thinking was not lead to layoffs and unemployment. When the elites meddle with the economy and peoples lives it's a good thing

edit: There is a source for this, and quote by Janet Yellen, in a New York Times article discussing the modern theory on central bank governance if I can be bothered to find it

1 comments

Stop commenting about things you, at best, don't understand.
yea I guess everyone else on hackernews are experters on central banks and I shouldn't comment