I'm against having a Fed. It's socialism in its worst form. But until the Fed is gotten rid of, the only economic variable the poor have to counteract the injustices of the Fed is the minimum wage law.
Minimum wage law is the 'People's Fed.' Tie minimum wage to money supply. If there is pushback against this idea, then shut down the Fed and its ability to distort the economy, penalizing labor, or make the Fed's distortions available to all businesses and all workers.
People are fed up. They are fed up with what's happening in Washington. They are fed up with both parties. They are fed up with politicians who have lied to them.
I remember being 18 and being fed up with everything - fed up with society, fed up with the political system, fed up with myself - and then you kind of go, 'Actually, this voting thing is amazing,' because you have a chance to change it, right?
The Fed's buying is far more important to the market price of U.S. debt than any other economic variable. If the Fed stops buying, it doesn't matter whether unemployment goes up or down. It doesn't matter whether inflation is higher or lower. Its influence on the market is dominant.
Bankers themselves govern the Fed to some extent, and then there's the classic revolving door where Fed officials come from and then go back to the financial sector. Fed officials tend to believe that the institution should have a large measure of independence from democratic control, even though in law it is under the ostensible control of Congress.
True enough, the Fed needs radical reforms. In particular, it needs to replace its failed forecasting models and be rid of the academics who overwhelm the Fed system.
America is fed up with political correctness, and it is fed up with government that doesn't work. It's fed up with weakness being interpreted as wisdom.
I like the taste of grass-fed meat. It is chewier, I'll own that... The Argentines make excellent beef that's grass-fed. They've learned how to age it, and they've gotten good at it.
This is very intriguing to think we should audit the Fed, but I discovered that probably if they audited the Fed, it would get a clean bill because it's undoubtedly doing exactly what it's supposed to do according to the law.
And we have a Fed that's doing political things. This Janet Yellen of the Fed. The Fed is doing political - by keeping the interest rates at this level.
The details of what the Fed did were kept secret until a provision in the Dodd-Frank Act that I sponsored required the Government Accountability Office to audit the Fed's lending programs during the financial crisis.
First and foremost, you have to remember that restaurants are businesses and they have to stay in business. And though everyone thinks they want grass fed beef, most people actually prefer the taste of corn fed - it is less dry, more marbled, and less gamey, not to mention much less expensive than grass fed.
First and foremost, you have to remember that restaurants are businesses and they have to stay in business. And though everyone thinks they want grass fed beef, most people actually prefer the taste of corn fed - it is less dry, more marbled, and less gamey, not to mention much less expensive than grass fed.
At the present moment the people of England are only three-quarters fed, and the result of this improvement in the export of our manufactures would be, that they would be entirely fed.
Two-thirds of the directors at the New York Fed are hand-picked by the same bankers that the Fed is in charge of regulating.
Just as the birds of the air are fed, we'll continue to be fed.