2min chapter

Free Thoughts cover image

Inflation! (with Norbert Michel)

Free Thoughts

CHAPTER

What Are They Doing That Helps Congress?

The fed can't legitimately tell congress any longer, hey, we can't buy all that stuff because we have an inflation mandate. This was something that they never used to do, and they've had to get the authority to do it right around the o a crisis. Therefore they don't have that cover any more, and congress can just say, pay them more interest. Pay higher interest. Now, that still becomes a political problem, obviously, but that's, that's what it does,. That throws them in the middle of thi political storm. Whereas previously they could simply go back to the mandate and say, you guys can do whatever you want to do. It's not on

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