The World Of Hurt Jerome Powell Is Inflicting That No One Is Talking About

Steve Forbes speaks about how he believes Chairman Jerome Powell and the Federal Reserve have fundamentally flawed operating models and principles.

Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:

Stay Connected

Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.

[stevebobamerican]

Inflation is NOT under control, real inflation is double what they are reporting. You can’t include/exclude necessities and adjust to whatever you want it to be.

[bwhog]

Remember, the problem with inflation today is NOT monetary policy. It is fiscal policy. A balanced budget will do more to bring down inflation than anything Powell and the Fed could do. Government spending, and deficit spending in particular, is the single biggest cause of inflation there is. If it were not for government deficit spending, there would be no current account debt for the Fed to monetize in the first place.

The fed's one job should be to maintain a stable currency. Businesses knowing that the amount they paid for a particular set of goods last year is the same they're going to pay for them this year and that they will also cost the same next year would be the the single biggest boon for the economy we've seen since the end of WWII.

[thatguy]

When gold is going crazy… the currency isn’t stable.

[markadkins]

It’s time to vote the children out of Office. It’s time for the real grown-ups to take control

[jeffkgraff]

These are the same geniuses who proclaimed inflation to be "transitory" and sat on their hands just a few years ago.

[raybod]

There’s a limit to how much Federal Reserve can do slow inflation because of huge federal deficit spending.

[Steve-yp]

Government spending is out of control. Period.

[Marktlv]

Steve is exactly right on all points. I'm amazed that we have central bankers who don't understand the urgent need for and the moral requirement for a stable and sound dollar.

[mojoman]

2 classes in America
Investor class
Working class

[lance]

USA needs to pay down its National Debt, media needs to bring these questions up to these politicians running for office

[humbertoazzalin]

We need no cuts, we need less money printing

[rheuss]

Government spending on useless wars is the problem. Unstable administration makes it worse

[Blair]

Finally someone speaking sanity. The federal reserve emperor has no clothes.

[bluewave]

I estimate there are 10 million more people in the US since 2020. What sort of impact on grocery prices would all these extra people have ? Same question for rental apartments ?

[NineInchTyrone]

Don’t blame the Fed. Congress spends like they have money

[jamescole]

Steve's point is a stable currency. I think that train left the station when Nixon took us off the gold standard,

[jeffmorton]

Why would anyone want more government in their lives? What a tremendous failure and waste.

[chainman]

Excellent points by Mr.Forbes.... Fed's fix doesn't fit the problem

[GeorgeDoughty-me]

I don't believe the Fed gurus can't understand this. They must really think they're masters of the universe. Doesn't bode well.

[edenrr]

Thanks for posting Steve.
Cheers, SV Good Karma as Grins.