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| Now you just have to demonstrate how those appointments actually serve to ensure the system works properly. Meaning that they understand that negative and zero interest rate policy is what creates "inflation". And if it can't be shown that they know what they are doing, then you need to figure out why they can't understand that massive debt expansion destroys savings, makes other things unaffordable to the average working person and that wages always lag behind their policy.
The government can appoint all the people they want, but if it can be clearly seen that those appointments aren't doing what they are supposed to then the appointments are irrelevant.
And the whole purpose of the independent Federal Reserve is actually to ensure there is no short sighted government control. Therefore if one is to say the government is being short sighted with monetary policy over the last 15 years then may as well end the Federal Reserve.
One last thought is who gives the direction to the Fed board. If these people can't figure out what causes the destruction of the peoples purchasing power then where do we start firing people and getting proper direction put in place. If it is government doing it via their appointments then what governing structure is in place to assess the performance of their appointees, ensure they are following sound monetary policy and having continual evaluations as to when they recall their appointees for being in dereliction of their duties of the position being held.
Any appointee thinking interest rate cuts are needed now is definitely in need of loosing their position. But I don't recall the structure where this assessment is done. | |
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The main reason Interest rates will go unchanged through November
