My grandson is 21, pursuing a degree in college and active in sports and social life. His future looks bright. But he and others of his generation will enter that future with a handicap imposed on them by people they have never met: Policymakers at the Federal Reserve. They claim to be “firmly committed to fulfilling its statutory mandate from Congress of promoting maximum employment, stable prices, and moderate long-term interest rates.”
What’s wrong with that? In Fed parlance “stable prices” mean prices that remain roughly the same. As a government-created central bank that manages the nation’s monetary system, the Fed calls 2 percent inflation over the longer run “price stability.”
Read Full Article: https://www.lewrockwell.com/2026/10/george-f-smith/dont-let-the-fed-steal-your-kids-future/
