"Biden printed a ton of cash while forcing people to sit at home unproductive. I don’t think there is anything the Fed could have done to stop this inevitable outcome of covid lockdowns."

A good overview of the Fed's real origins in populist demands for easier credit, rising prices and a money supply less tied to gold.

"Good monetary policy is about allocatively neutral demand stabilization, giving markets the liquidity they need to operate at full employment. If monetary policy were “about” changing interest rates, it would become something entirely _...Read More_