Thomas Hoenig on Inflation and the Federal Reserve
The Great Antidote
Introduction
adam smith: Science is the great antidote to the poison of enthusiasm and superstition. We're going to be talking about the federal reserve and money creation. Last month we had an inflation rate of eight point five%. And now we're down to about eight point three by the latest. Compared to the average rate of inflation, which is approximately two %, that is a big jump.
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