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Forecasting the Moves of The Fed with Barry Habib (WiM282)
The "What is Money?" Show
Is It a Fool's Errand to Plan This?
Is it almost a fool's errand to try and plan this whole thing? Should we not just leave it up to market forces, let the interest rate be a product of price discovery like every other commodity in the world? Well, to some extent, the Fed is charged with price stability, but price stability is flat prices, zero prices. So they pull out of their ass this 2%, right? 2%. Why do they have that? They have 2% rate of inflation because in an area where the Fed's supposed to act,. The reason the Fed was created, which is JP Morgan and others were were bailing banks out when there was distress.
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