Re: Are You Getting Your Share Of The Trillions Coming From Bernanke's Money Generato
No, it's NOT the job of the FED to directly affect job numbers and your'e full of sh** if you think it has.
"Today, the Federal Reserve's duties fall into four general areas:
-conducting the nation's monetary policy by influencing the monetary and credit conditions in the economy
in pursuit of maximum employment, stable prices, and moderate long-term interest rates
-supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system and to protect the credit rights of consumers
-maintaining the stability of the financial system and containing systemic risk that may arise in financial markets
-providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system"
FRB: Mission
Section 2A. Monetary policy objectives
The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production,
so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.
[12 USC 225a. As added by act of November 16, 1977 (91 Stat. 1387) and amended by acts of October 27, 1978 (92 Stat. 1897); Aug. 23, 1988 (102 Stat. 1375); and Dec. 27, 2000 (114 Stat. 3028).]
FRB: Federal Reserve Act: Section 2a
It quite clearly
is the job of the Federal Reserve.
The FEDS on it's 3 round for a reason, the first two failed ( ofcourse they failed , printing money creates no jobs, just inflation.)
Inflation was at 1.40% in May so what inflation are you talking about?