The Federal Reserve passes the buck on inflation

cnn ^ | 6/9/2022 | Nicole Goodkind

[JoSixChip]

The mission of the Federal Reserve is to foster the stability of US monetary systems. It's the reason the central bank was created in 1913, and it's the reason it still exists today. So when inflation threatens to potentially destabilize the dollar, it's the Fed's job to spring to action.

[JoSixChip]

This is complete crap. They admit that energy is the problem, but then blame Russia and everything under the sun. The real problem is biden chocked off energy and the fed has been cowering in the corner in the fetal position. They act like a 3/4% increase in rates is equivalent to what they did in the early 80s. It's not even close, rates need to be over 10% to effect this inflation. The fed is way too late and doing way too little. They are more of a liberal political body then a non-biased manager of the monetary system. Liberalism destroys everything, I can't think of one thing it has made better.

[plain talk]

“Commodity prices, the war in Ukraine, and supply chain chaos will continue to impact inflation, he said, and no change to monetary policy will mitigate those things. ‘

The causes listed are wrong but the essential point is correct. The fed can’t fix this. A major root cause is high energy prices which was caused largely by Biden. You can’t double energy costs without massive inflation.

[GaltAdonis]

Hey - a few trillion $$$ stimulus here, a few trillion $$$$ bailout there -
and Whoops! Suddenly you wind up with MASSIVE monetary inflation!

Surprise!!!
WHO could possibly have guessed it? WOW!!!

;-)

/s

[Cboldt]

I blame Congress. Congress has the power to coin money and regulates its value. Like nearly everything, Congress delegated this job, but it cannot delegate responsibility.

[TomGuy]

So when inflation threatens to potentially destabilize the dollar, it's the Fed's job to spring to action.

And they are going to spring at their next meeting, or the following one, or maybe later.

After all, springing is hard work.

[entropy12]

I am guessing the FED will increase rates at next meeting by 1/2% max. They are taking the path of least resistance instead of the difficult and unpopular decision to increase rates enough to make a difference.

[Georgia Girl 2]

The mission of the Federal Reserve is to transfer wealth from the masses to Wall Street and the Central banking system. Their enforcement arm is the IRS.