The Phaserl


Former Fed Governor Warsh Admits That the Central Bank Manipulates Markets

by Chris Powell, GATA:

Adjudicating GATA’s freedom-of-information claim against the Federal Reserve when he was a member of the Fed’s Borad of Governors in 2009, the author revealed that the Fed has secret gold swap arrangements with foreign banks —

— a business about which New York Fed President William Dudley refused to answer questions five months ago:

* * *

The Federal Reserve Needs New Thinking

By Kevin Warsh
The Wall Street Journal
Thursday, August 24, 2016…

The conduct of monetary policy in recent years has been deeply flawed. U.S. economic growth lags prior recoveries, falling short of forecasts and deteriorating in the most recent quarters. This week in Jackson Hole, Wyoming, the Federal Reserve Bank of Kansas City hosts the world’s leading central bankers and academics to consider monetary reform. The task is timely and consequential, but the Fed needs a broader reform agenda.

Policy makers around the world neither predicted nor can adequately explain the reasons for current inflation readings below their targets. So it is puzzling that so many academics are pushing to raise the current 2% inflation target to a higher target of 3% or 4%. In the telling of the economics guild, the Fed’s leaders should descend from the Grand Tetons with supreme assurance that their latest monetary policy invention will remedy the economy’s ills.

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1 comment to Former Fed Governor Warsh Admits That the Central Bank Manipulates Markets

  • d

    The FED needs to be shut down and ALL of its employees …indicted and put on trial for GRAND THEFT…ALL…and then we can see who comes to their aid…as in CONgress, president, etc….and those that do come to their aide..ALSO then can be indicted and tried for the same CRIMES…and NOT by the DOJ or ANY Federal court…STATE courts only…..imho

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