CD Media
Markets

Fed’s Inflation Efforts ‘Likely To End Disastrously’

Fed’s Inflation Efforts ‘Likely To End Disastrously’
FOMC Chairman Powell answers a reporter’s question at the press conference

Morgan Creek’s Anthony “Pomp” Pompliano says the Federal Reserve’s attempts to control inflation are likely to end in disaster — which will benefit Bitcoin.

The Fed is currently completing an annual policy review and reportedly considering a plan to not raise interest rates until inflation hits 2%. In a Aug. 5 letter to subscribers titled The Wizards of The Federal Reserve Pomp said the Fed’s efforts to ramp up inflation has put it “on a path that could end disastrously.”

He stated the nature of the U.S. economy means it is “nearly impossible to manipulate with nuanced control” and the central bank has a poor record with inflation targets over the years, having only “come within +/- 10% of that target 3 of the last 10 years…”

To read more visit CoinTelegraph.

Related posts

Wholesale Inflation Soars, Led By Gasoline

CD Media Staff

Stocks Down On War Fears, Higher Oil Prices

CD Media Staff

Job Creation Misses Big…Is It A Fluke? Wages And Other Indicators Up

CD Media Staff

3 comments

Kellyanne Conway Is Leaving The White House - Globalist News | #Globalist August 24, 2020 at 5:38 pm

[…] Fed’s Inflation Efforts ‘Likely To End Disastrously’ […]

Reply
Consumer Confidence Weakens, Housing Sales Beat As ‘Second Wave’ Effects Continue - Globalist News | #Globalist August 25, 2020 at 8:00 pm

[…] Fed’s Inflation Efforts ‘Likely To End Disastrously’ […]

Reply
Confusion In Kenosha: Were Cops Arresting Blake For Sex Assault Or Not? - Globalist News | #Globalist August 25, 2020 at 10:02 pm

[…] Fed’s Inflation Efforts ‘Likely To End Disastrously’ […]

Reply

Leave a Comment

Subscribe to our evening newsletter to stay informed during these challenging times!!

Clicky