MAHARREY: Fed Paper Admits It Can’t Control Inflation, Blames Federal Government

MAHARREY: Fed Paper Admits It Can’t Control Inflation, Blames Federal Government

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It appears somebody at the Federal Reserve has figured out that the central bank can’t tame inflation, so it’s setting up a scapegoat – Uncle Sam. A paper co-authored by Leonardo Melosi of the Federal Reserve Bank of Chicago and John Hopkins University economist Francesco Bianchi and published by the Kansas City Federal Reserve argues that central bank monetary policy alone can’t control inflation. The paper’s abstract asserts, “This increase in inflation could not have been averted by simply tightening monetary policy.”
In a nutshell, Melosi and Bianchi argue that the Fed can’t control inflation alone. US government fiscal policy...
Source: https://www.newswars.com/maharrey-fed-paper-admits-it-cant-control-inflation-blames-federal-government/