To: neolib who wrote (44563 ) 11/11/2017 10:05:50 AM From: RetiredNow Respond to Very true. Some Presidents are far more impactful, especially if they have the ability to sway Congress to their agenda. And your comments about the Fed...whew, don't get me started. I believe the Fed is a cancer that needs to be eradicated if we are to ever have a healthy economy again. Centrally planned economies are always inferior to decentralized, market based economies. The Fed has become the largest currency manipulator in the world, which is why I find it so disingenuous for our leaders to accuse China of the same. It's hypocritical. And this dual mandate thing of unemployment and 2% inflation...the Fed should stick to one thing and one thing only: a stable currency. Not an arbitrary 2% inflation target that they are spectacularly incompetent at achieving and not a unemployment rate, which is not even an accurate measure anyway, and never should they be allowed to print money, but they should stick to a stable currency, so that Americans can have a stable store of value for their hard work and businesses can have a stable currency to trade in and interest rates are set by supply, demand, and risk, which allows for price discovery and the clearing away of bad debts through market dynamics and acts as a constraint on the accumulation of debt through market increases in the price of debt for bad borrows, which means Congress would have a market based constraint on their deficit spending, because the market would only lend them money at elevated rates that match the risk they are taking of default.
