The Fed Faces A “Complete Nightmare”: Convincing The Public That Higher Inflation Is Good For Them
Higher prices are good people…Get on that debt train to pay for them.
The Fed is now looking to push inflation past the prior target of 2%.
…it would crush America’s already suffering middle class by sending prices higher even as wages continue to shrink.
It’s also why after Powell’s speech tomorrow laying the groundwork for AIT (Average Inflation Targeting), at its policy meeting next month, the Fed is expected to change how it characterizes its inflation goal and instead of looking to achieve 2% inflation on an annual basis, it is expected to aim to achieve that level as an average over a longer time, and explicitly allow perhaps years of faster price increases to make up for years when prices rose too slowly.
Keep in mind that a justification in forming The Fed was to stop inflation. Since then the reverse has occurred and the dollar has lost 97% of its purchasing power, something that never happened before The Fed.
This article was originally posted here: https://www.ac2news.com/2020/08/the-fed-faces-a-complete-nightmare-convincing-the-public-that-higher-inflation-is-good-for-them/.