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A billion here and a billion there adds up to real money. When it comes to Fed losses, we are now talking about real money.
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No one, let alone the government, is in a good position to know what the long-term effects of a potentially disruptive innovation will be.
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These days, the Fed and Chairman Jerome Powell are claiming the title of 'inflation fighters.' The more appropriate moniker should be 'inflationists.'
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The Fed is insolvent, and that means that it will bail itself out by printing money. For ordinary people, that means inflation and a rising cost of living.
A billion here and a billion there adds up to real money. When it comes to Fed losses, we are now talking about real money.
