…and creating problems. But then, we knew that, didn’t we?
Gary K. quotes Charles Schwab:
“The Fed’s Jan. 25 statement that it would keep short-term interest rates near zero until at least late 2014 is sending a signal of crisis, not confidence.”
“Yet the economy doesn’t need life support. Just the opposite. The patient needs to get up and start moving. We could get out of this mess, if only the Fed believed in the free-market system. In free markets, supply and demand find an equilibrium. That’s true whether we’re talking about the supply of grain and housing or cash and credit. But a functioning free market requires confidence that the government isn’t imposing itself unnecessarily in the works, preventing supply and demand from returning to equilibrium.”
GOD BLESS YOU CHARLES SCHWAB. That’s all I’ve got to say. I recommend to each and every one of you to read this op-ed. It’s called the Fed Votes No Confidence. Read the whole thing. It is exactly what I have been telling you for months and months. The Fed is creating problems. They are screwing the saver. They are hurting people. They are telling people to not take as much risk because we’re talking risk down for another two years. That is insanity. And every one of the policies DEFINES future inflation.
To read the whole op-ed without WSJ subscription, go through Google.
© Federal Reserve – Screwing savers since 1913