They state in their newsletter that they want a 2% target for average inflation but threw out any math or calculations out of the window.
At “Navigating the Decade Ahead: Implications for Monetary Policy,” an economic policy symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming (via webcast)
Additionally, instead of using Inflation targets, we are now using ‘Average’ Inflation Targets and rates. And the Fed has the audacity that it’s more ROBUST because it’s clear policy is made up by imaginary tape and sticky gum. They’re gas lighting and smart rich people are right to be scared, as well as the average smart person, and anyone who deals with the US dollar.
Yes, there is no justification nor metric for how we run shit.
I mean, it was already a shit show when we no longer accounted for any M1, M2, M3, M4, M5 etc. Money supply figures as a basis for our current Economic Dogma. This shit is just getting Clowny.
In Closing
It’s clear, that money is a social construct, economics isn’t really a science (nor is it actually real, just quantifying and accounting things), Modern Monetary theory (the current cult in power) is a failure (amongst the others), and the Federal Reserve has lost credibility and became some sort of looney bin (whose steering economic and monetary policy).
Is this the failure of central banking?
What does the future hold?
How will anthropologists and the future Economists evaluate this crazy shit?
Why the fuck is a sandwich $10 on ‘average’, what the fuck are we doing here?
Thanks to the Uneducated Economist for enlightening me on this. God Damn.
May we have more faith in God than our money, because I just can’t believe this paper shit.
God, do I hate Economists and Economies.
*Not Valid Financial, Legal, Life, or Any Advice