{"id":7925,"date":"2023-08-05T16:20:36","date_gmt":"2023-08-05T16:20:36","guid":{"rendered":"https:\/\/isafespend.com\/personal-finance\/banking\/federal-reserve-still-wedded-to-preposterous-phillips-curve-and-may-make-foolish-decision-tomorrow\/"},"modified":"2023-08-05T16:20:36","modified_gmt":"2023-08-05T16:20:36","slug":"federal-reserve-still-wedded-to-preposterous-phillips-curve-and-may-make-foolish-decision-tomorrow","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=7925","title":{"rendered":"Federal Reserve Still Wedded To Preposterous Phillips Curve \u2014 And May Make Foolish Decision Tomorrow"},"content":{"rendered":"
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The commercial and financial worlds<\/strong> are eagerly anticipating not only what the Federal Reserve will do with interest rates this week but also what hints it might drop about future moves.<\/p>\n

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What\u2019s Ahead argues that this whole exercise is preposterous and dangerous. The Fed doesn\u2019t \u201cget\u201d inflation. It mistakenly believes that prosperity causes this disease and that the way to fight it is by reducing the pace of economic activity. In other words, by making people poorer.<\/p>\n

It\u2019s a case of gross misdiagnosis. Real world experience shows the Fed\u2019s view to be nonsense. Our central bank should instead focus on making the dollar stable. Only one presidential candidate is discussing this. The others must get up to speed.<\/p>\n<\/div>\n

Follow me on\u00a0<\/span>Twitter<\/a>.\u00a0Send me a secure\u00a0tip<\/span>.\u00a0<\/div>\n
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