The Ben Shapiro Show Why The Fed Interest Rate Drop Matters To YOU | Facts Ep. 17
Sep 18, 2024
The Federal Reserve's recent interest rate cut is a game changer for the economy. It reveals the immense power of unelected officials in today’s financial landscape. A shift from the gold standard has paved the way for central banks to dictate monetary policies. There’s a critical discussion on how political pressures influence these choices, impacting everyday Americans. The podcast also delves into the repercussions of fiscal irresponsibility and how it affects personal finances. Tune in for insights that could change your financial perspective!
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Central Bank Power
- The global economy isn't controlled by businesses or legislatures.
- It's controlled by central banks who influence product prices, savings, and employment.
Monetary vs. Fiscal Policy
- The Federal Reserve controls monetary policy, influencing the money and credit in circulation.
- Before the 1930s, the gold standard limited government manipulation, making fiscal policy the primary economic driver.
Gold Standard and Debt
- From 1870 to 1931, the international gold standard kept the US national debt low.
- After World War I, the debt remained below 20% of GDP.
