Geniuses in Charge
BALTIMORE, Maryland – Is there any smarter group of homo sapiens on the planet? Or in all of history? We’re talking about Fed economists, of course.
Not only did they avoid another Great Depression by bold absurdity…giving the economy more of the one thing of which it clearly had too much – debt. They also carefully monitored the economy’s progress so as to avoid any backsliding into normalcy.
And where do we get this penetrating appraisal? From the Fed economists themselves, of course. Bloomberg:
‘The U. S. Federal Reserve’s decisions to delay interest-rate hikes helped cushion the economic shocks caused by rapidly rising borrowing costs for U. S. companies from late last year through early 2016, according to economists at the New York Fed.
‘By maintaining the federal funds rate lower, the FOMC managed to substantially offset the effect of tightening financial conditions on the economy,’ the authors, referring to the rate-setting Federal Open Market Committee, wrote in a blog post on the bank’s website on Wednesday.’
They’re geniuses. No doubt about it. That’s why they’re in charge and we’re not. They’re the elite. They run the Deep State. They may not pay the piper, but they call the tune anyway. And good on them! Who knows what prices we might discover if we were left on our own?
This post was published at Acting-Man on May 28, 2016.