gainspainscapital.com / Graham Summers /
By continually moving its “targets” for political purposes, the Fed has let the inflation genie out of the bottle.
The Fed should have begun raising rates back in 2012. However, instead of doing this, then-Chairman Ben Bernanke gifted the Obama administration QE 3: an open ended QE program.
The goal was to boost the economy to help the Obama administration with its reelection bid. This is not a right vs. left issue (Bernanke was allegedly a Republican), this was simply a
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