{"id":54894,"date":"2020-09-02T07:34:11","date_gmt":"2020-09-02T12:34:11","guid":{"rendered":"https:\/\/olduvai.ca\/?p=54894"},"modified":"2020-09-02T07:34:11","modified_gmt":"2020-09-02T12:34:11","slug":"market-update-the-feds-big-lie","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=54894","title":{"rendered":"Market Update: The Fed’s Big Lie"},"content":{"rendered":"
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Market Update: The Fed’s Big Lie<\/a><\/h3>\n

Ignore Powell’s happy talk. The Fed is desperate and merely playing for time.<\/strong><\/p>\n<\/div>\n<\/div>\n

Insanity is doing the same thing over and over again, but expecting different results.<\/em><\/p>\n

Federal Reserve Chairman Jerome Powell announced on Thursday that the Fed will now shift its focus from hitting inflation targets and instead prioritize closing \u201cunemployment shortfalls\u201d.<\/p>\n

This gives it the aircover to do \u201cwhatever it takes\u201d until the unemployment rate is back down into the low single digits. Inflation can now run hotter than 2%, rates can stay at 0% (or go negative) for the next decade+, more QE\u2026. all is fair game now in the pursuit of lower unemployment.<\/p>\n

Essentially, the Fed is now tripling-down on the same failed policies that have created today\u2019s zombie economy and the worst economic inequality in our nation\u2019s history.<\/p>\n

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\"Rich<\/p>\n

Perhaps the folks at the Fed are smarter than we think, and there\u2019s actually a grand plan they\u2019re pursuing that\u2019s going to work out to society\u2019s benefit?<\/p>\n

Sadly no, reveals this week\u2019s expert guest,\u00a0Danielle DiMartino-Booth<\/strong><\/a>. Danielle knows the Fed inside and out, as she worked as a consultant for nearly a decade to Richard Fischer, President of the Federal Reserve Bank of Dallas, including helping deal with the Great Financial Crisis. She knows how the organization runs, as well as the specific people running it.<\/p>\n

And her assessment is that the Fed is trapped in a nightmare of its own making and is merely playing for time at this point.<\/strong>\u00a0Everything it throws at the situation is designed to hopefully get the system to limp through the next quarter or two without breaking, at which point they\u2019ll scramble to come up with the next short-term \u201csolution\u201d.<\/p>\n

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

Market Update: The Fed’s Big Lie Ignore Powell’s happy talk. The Fed is desperate and merely playing for time. Insanity is doing the same thing over and over again, but expecting different results. Federal Reserve Chairman Jerome Powell announced on Thursday that the Fed will now shift its focus from hitting inflation targets and instead […]<\/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":[9860,24664,303,8222,426,2218,824,827,3650],"class_list":["post-54894","post","type-post","status-publish","format-standard","hentry","category-economics","tag-adam-taggart","tag-danielle-dimartino-booth-2","tag-fed","tag-great-financial-crisis","tag-inflation","tag-peak-prosperity","tag-unemployment","tag-united-states","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54894","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=54894"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54894\/revisions"}],"predecessor-version":[{"id":54895,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54894\/revisions\/54895"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}