WEB Notes: What always amazes me is how anyone can honestly think the Federal Reserve is stupid. They are not stupid, they are not dumb. They are not making “bad” economic decisions or mistakes. They are making economic decisions to destroy your nation.
Since 2008, the Fed has relied on near-zero interest rates to stimulate economic growth, and they still sincerely believe that low interest rates will do the job they’re supposed to.
However, the hard evidence of the past few years is that ultra-low rates, combined with quantitative easing, haven’t stimulated much growth.
Unemployment has fallen, which is good—but probably not as good as the numbers suggest because people have gone back to work for lower pay and are now even deeper in debt.