You nailed it. The Fed has assumed an unofficial third mandate: to support the financial markets by supplying "credit", i.e. debt monetization.
And it is really rather ironic (and maddening) to hear the Fed chairman and Fed bank presidents talk about addressing income inequality in our society when they are in fact widening the wealth gap through their pro-inflationary policies!
You nailed it. The Fed has assumed an unofficial third mandate: to support the financial markets by supplying "credit", i.e. debt monetization.
And it is really rather ironic (and maddening) to hear the Fed chairman and Fed bank presidents talk about addressing income inequality in our society when they are in fact widening the wealth gap through their pro-inflationary policies!
Thank you for sharing!