FOMC The Absurdity Of The Federal Open Market Committee

written by

Powell Destroys Credibility

Support free journalists: > send a tip

This article was originally published by Austin Litman on Proofofwork.ca

“FOMC” stands for “Federal Open Market Committee”. But I like to think of it as “Fear of Market Crash” because the population tunes in to see if the market is going to crash. How do they tell? One man tells them. Powell (the man who controls the money printer) said the following to the American public on 11/2 during the FOMC meeting:

  • GDP is 0
  • He will continue to raise interest rates until inflation is 2%
  • He needs unemployment to go up before he lowers rates.

That’s the important stuff. It tells you everything you need to know. And then for the fear mongering/blame displacement, here are some quotes he dropped to the public:

  • “Russia vs. Ukraine is causing this inflation, not the dollar printing.”
  • “The conditions are more uncertain than I initially thought. We’re surprised.”
  • “I don’t know when we will have to stop raising rates until the goal of 2% inflation is hit. And I will not stop until 2% inflation is hit.”
  • “I will reduce the size of the balance sheet”.”
  • “The strong dollar is hard for some Countries.” (He refers to the millions of people dying worldwide because of inflation, like in Lebanon).
  • “A recession might be coming.” 

Lol. He really said “a recession might be coming” for his closing remarks.

Enjoyed the article?

100% of your tips go directly to [email protected]
Need a wallet? Get it here

⚡️ Tip The Author

Help spread this article :)

BitcoinNews.com is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of BitcoinNews.com

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com 

   Advertisement

Read More Bitcoin News

   Advertisement

Join our Newsletter

   Advertisement

Latest on Bitcoin News

Video of the Week

Join our Newsletter

   Advertisement