“The Price of Time” and Broken Central Banking

Source: American Institute for Economic Research
by Joakim Book

“While it is true that the Fed’s actions helped bring inflation down, it is hard to give Fed officials too much credit: they solved a problem they created. Month after month, yields on Treasury bonds and bills kept creeping up, bank rates tripled, and suddenly a generation of savers and borrowers accustomed to rock-bottom rates, below-target inflation, and free money had their world turned upside down. To ask what interest is and what it’s doing in commercial and financial society moved from an abstract academic inquiry to very real conversations at dinner tables everywhere.” (03/26/24)