Summary:
In response to rising prices, Federal Reserve Chairman Jay Powell says the Fed will speed up the slowdown in purchasing assets. Huh? Of course, even if the Fed ceased today, we’d have a massive problem on our hands thanks to the tsunami of money loosed upon the economy in the past two years. But don’t count on that promise to stop inflating in March – at least not for very long.
Links:
https://www.youtube.com/watch?v=JdENWsyqXh4 (Fed Chair Jerome Powell holds a press conference following FOMC meeting)
https://www.rev.com/blog/transcripts/fed-chair-jerome-powell-press-conference-transcript-december-15 (Fed Chair Jerome Powell Press Conference Transcript December 15)
https://fred.stlouisfed.org/series/M1SL (M1 Money Supply (FRED))
https://realmoney.thestreet.com/investing/jerome-powell-speaks-and-the-markets-are-very-worried-15877731 (Jerome Powell Speaks and the Markets Are Very Worried)
https://mises.org/wire/crying-wolf-hyperinflation (Crying Wolf on (Hyper)Inflation?)
Additional Reading:
https://www.amazon.com/gp/product/1737924528/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=1737924528&linkCode=as2&tag=tomusbl-20&linkId=eac8871da7ddd6302303361c039a6ef1 (It’s the Fed, Stupid)
https://www.amazon.com/gp/product/B004GHNMT4/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=B004GHNMT4&linkCode=as2&tag=tomusbl-20&linkId=24e879b54e637738a761b83ccb3bc890 (The Theory of Money and Credit)
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