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Dangers of the Federal Reserve's Actions
The chapter delves into the potential consequences of the Federal Reserve's decisions on the US economy, highlighting the risk of a painful downturn and recession if the Fed makes mistakes. It also discusses the Fed's lack of control over the international economic system, the struggle between the Western world and the global South, and the potential for inflation to rise. The chapter explores the viewpoints of FOMC members and the limitations of stimulus in the US economy.