{"id":35342,"date":"2018-06-21T09:26:13","date_gmt":"2018-06-21T14:26:13","guid":{"rendered":"http:\/\/olduvai.ca\/?p=35342"},"modified":"2018-06-21T09:26:13","modified_gmt":"2018-06-21T14:26:13","slug":"the-feds-inflation-target-is-impoverishing-american-workers","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=35342","title":{"rendered":"The Fed\u2019s \u201cInflation Target\u201d is Impoverishing American Workers"},"content":{"rendered":"
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The Fed\u2019s \u201cInflation Target\u201d is Impoverishing American Workers<\/a><\/h3>\n<\/div>\n

Redefined Terms and Absurd Targets<\/strong><\/p>\n

At one time, the Federal Reserve\u2019s sole mandate was to maintain stable prices and to \u201cfight inflation.\u201d\u00a0 To the Fed, the financial press, and most everyone else \u201cinflation\u201d means rising prices instead of its original and true definition as an increase in the money supply.\u00a0 Rising prices are a consequence \u2013 a very painful consequence \u2013 of money printing.<\/p>\n

\"\"Fed Chair Jerome Powell apparently does not see the pernicious effects of inflation (at least he seems to be looking around\u2026 [PT]<\/em>)\u00a0Photo credit: Andrew Harrer \/ Bloomberg<\/p>\n

Naturally, the Fed and all other central bankers prefer the definition of inflation as a rise in prices which insidiously hides the fact that they, being the issuers of currency, are the real culprit for increased prices.<\/p>\n

Be that as it may, the common understanding of inflation as rising prices has always been seen as pernicious and destructive to an economy and living standards.\u00a0 In the perverted world of modern economics, however, the idea of inflation as an intrinsic evil has been turned on its head and monetary authorities the world over now have \u201cinflation targets\u201d which they hope to attain.<\/p>\n

America\u2019s central bank is right in line with this lunacy. According to the Fed\u2019s \u201cMay minutes\u201d, it wants<\/p>\n

Translated into understandable verbiage, the Fed wants everyone to pay at least 2% higher prices p.a. for the goods they buy.<\/p>\n

Yes, by some crazed thinking US monetary officials believe that consumers paying higher prices is somehow good for economic activity and standards of living!\u00a0 Of course, anyone with a modicum of sense can see that this is absurd and that those who espouse such policy should be laughed at and summarily locked up in an asylum!\u00a0 Yet, this is now standard policy, not just with the Fed, but with the ECU and other central banks.<\/p>\n

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\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Fed\u2019s \u201cInflation Target\u201d is Impoverishing American Workers Redefined Terms and Absurd Targets At one time, the Federal Reserve\u2019s sole mandate was to maintain stable prices and to \u201cfight inflation.\u201d\u00a0 To the Fed, the financial press, and most everyone else \u201cinflation\u201d means rising prices instead of its original and true definition as an increase in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[5728,12284,303,20603,426,10305,16888,538,954,8732,3650],"class_list":["post-35342","post","type-post","status-publish","format-standard","hentry","category-economics","tag-acting-man","tag-antonius-aquinas","tag-fed","tag-financial-press","tag-inflation","tag-inflation-targeting","tag-jerome-powell","tag-money-printing","tag-money-supply","tag-price-stability","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35342"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35342\/revisions"}],"predecessor-version":[{"id":35343,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35342\/revisions\/35343"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}