In a concerning interview, the former Dallas Fed Governor Richard Fisher, apparently unaware of the power and meaning of his own words, describes how the Fed’s zero interest rate and quantitative easing (QE) policy since 2008 has never been more than asset bubble blowing shamelessly whitewashed as the nonsensical ‘wealth effect’. Fisher’s comments lay bare the profound recklessness of the Fed’s policy and reveal the calamity they have laid at our feet.
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History will not be kind to his contemporaries at the Fed.
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Great to have you share. My mom used to say “To succeed in life, you need two things: ignorance and confidence” 🙂