Monday , January 25 2021
Home / Mish's Global Economic / Five Fed Presidents Praise Inflation, Not Threatened by Rising Yields

Five Fed Presidents Praise Inflation, Not Threatened by Rising Yields

Summary:
Five FED presidents praise financial fraud. In 2004, the FBI warned congress of massive mortgage fraud. In 2005, Greenspan praised bankers for getting people into homes they otherwise could not afford. Greenspan was praising massive mortgage fraud, which allowed people to get into homes they could not afford. After the housing bust, Greenspan pretended to lament that he thought the bankers would have been more responsible. Greenspan encouraged the irresponsibility with his taking of lending standards to ZERO. Bernanke followed up by pretending, after he left office, that he lamented he had not referred any bankers. Stable prices means no change. That is the FED's mandate. 2% inflation is not stable prices. How can five FED presidents cheer violating their mandate of stable prices? It is

Topics:
Mike Shedlock considers the following as important:

This could be interesting, too:

Mike Shedlock writes Biden Announces a 100-Day Plan to Defeat the Covid Pandemic

Mike Shedlock writes New All-Time Low Junk Bond Yield, Is the Fed Worried?

Mike Shedlock writes Biden’s Most Ever First Day Executive Actions

Mike Shedlock writes Biden Declares ‘Democracy’s Day’ in Plea for Unity

Five FED presidents praise financial fraud.

In 2004, the FBI warned congress of massive mortgage fraud. In 2005, Greenspan praised bankers for getting people into homes they otherwise could not afford.

Greenspan was praising massive mortgage fraud, which allowed people to get into homes they could not afford. After the housing bust, Greenspan pretended to lament that he thought the bankers would have been more responsible. Greenspan encouraged the irresponsibility with his taking of lending standards to ZERO.

Bernanke followed up by pretending, after he left office, that he lamented he had not referred any bankers.

Stable prices means no change. That is the FED's mandate. 2% inflation is not stable prices. How can five FED presidents cheer violating their mandate of stable prices? It is all so phony.

Mike Shedlock
Mike Shedlock (Mish) is a registered investment advisor representative for SitkaPacific Capital Management (http://www.sitkapacific.com/). Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

Leave a Reply

Your email address will not be published. Required fields are marked *