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Fed Lifer John Williams’ Five Basis Point Farce

Summary:
We start with this gem from NY Fed president John Williams. He claims the Fed must keep injecting 0 billion per month of fraudulent credit into Wall Street because, apparently, this quarter’s likely 7% real GDP growth and 5% inflation are not sufficient to meet the Fed’s goals: “… the data and conditions have not […]

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We start with this gem from NY Fed president John Williams. He claims the Fed must keep injecting $120 billion per month of fraudulent credit into Wall Street because, apparently, this quarter’s likely 7% real GDP growth and 5% inflation are not sufficient to meet the Fed’s goals: “… the data and conditions have not […]
David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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