| > In the end I'd say the US's broken legislative system has forced the fed to make some really tough decisions. But don't the fed and congress serve the same master? Congress is 'broken' for a reason. > The board of the fed saw congress's failure and figured "if this country can't execute fiscal policy well at least we can step in with expansionary monetary policy". No. The idea of using monetary policy over fiscal policy has been in use for decades. It's simpler, quicker and politically easier. > Came to kick them in the ass when covid rolled around That's when we had the expansionary fiscal policy. Where's the praise for congress? https://fred.stlouisfed.org/series/FGEXPND > but it was also arguably responsible for one the best decades of economic growth in human history. It was responsible for the biggest asset price increases ( stocks, housing prices, etc ) along with extreme wealth disparity, stagnant wages, low socio-economic advancement and the political chaos of obama-trump-biden. Crazy to see someone praise a bunch of unaccountable international bankers for their monetary policy especially when the monetary policy causes the economic problems in the first place. And then put down elected politicians for their lack of fiscal policy and ignore their expansionary fiscal policy during covid. Comment reads like FED PR. |