The U.S. Federal Reserve is so busy chasing phantom inflation that it cannot see the recession looming dead ahead. The Fed is emblematic of just how wrong unaccountable elites can be and the vast damage they can do.
Fed Chair Jerome Powell announced last Wednesday the central bank will pause its program of interest rate increases, which has been in place for a year in an effort to tackle inflation.
Inflation has slowed significantly and is rapidly approaching zero. Cato Institute Senior Fellow Alan Reynolds notes the May figures show the producer price index for final demand […]