3 ms·

So, the GOP is pro-free market, except when they're not? RIP capitalism?

• deleted 7y ago
  [deleted]
• OscarCunningham 7y ago
  The Fed's mandate is to keep the value of money steady. Suddenly deviating from that mandate wouldn't be 'free market'; it would just be stupid. The Fed's actions here are exactly what they promised. In fact, if we did have a system with a private money supply then those issuers would also be printing money right now.
  • ghouse 7y ago
    I consider increasing the Fed's balance sheet by 10x to working exactly against the mandate of keeping the value of money steady. How else might that action be interpreted? However, in contrast to your explanation, I understand the Fed's mandate to be "promote effectively the goals of maximum employment, stable prices, and moderate long term interest rates"
    • OscarCunningham 7y ago
      > I consider increasing the Fed's balance sheet by 10x to working exactly against the mandate of keeping the value of money steady. How else might that action be interpreted? If they don't do it, there will be a lot of deflation. With it there won't be as much. So the money printing is making prices more stable. (There will probably still be some deflation unless they go further, which they should.)
• tathougies 7y ago
  The GOP does not run the Fed, and for the most part, Republicans are much more likely to be opposed to the Federal Reserve system: https://www.pewresearch.org/fact-tank/2015/12/16/americans-views-of-fed-depend-on-their-politics/ https://www.pewresearch.org/fact-tank/2015/12/16/americans-v...