Confirmed: Federal Reserve Policy is Killing Lending, Employment and the EconomySubmitted by bobbyw24 on Sun, 07/17/2011 - 07:41
Confirmed: Federal Reserve Policy is Killing Lending, Employment and the Econom
I've previously documented numerous ways in which the Fed is working against its stated goals, such as:
Reinforcing cyclical trends (when one of the Fed's main justifications is providing a counter-cyclical balance);
Increasing unemployment (when the Fed is mandated by law to maximize employment); and
Encouraging financial companies to make even riskier gambles in the future (when it is supposed to stabilize the financial system).
And see this.
And I've repeatedly pointed out that the Federal Reserve has been intentionally discouraged banks from lending to Main Street - in a misguided attempt to curb inflation - which has increased unemployment and stalled out the economy.
As I noted last year: