NickGiambruno on Nostr: The Fed is nothing more than a politburo of bureaucrats attempting to centrally plan ...

The Fed is nothing more than a politburo of bureaucrats attempting to centrally plan the economy by tinkering with the money and interest rates—the most important prices in all of capitalism.

Even if we presume the Fed has benign intentions—which it doesn’t—central planning is impossible, and failure is inevitable.

The Fed can’t save the day any more than the State Planning Committee of the USSR could.