He’s an arrogant lame brain, folks. Jerome Powell told “60 Minutes” last night in no uncertain terms that it’s 2.00% inflation come hell or high water; and that until then, the Fed intends to crush, suppress and flatten interest rates with malice aforethought.
“We want to see inflation move up to 2%. And we mean that on a sustainable basis… we want inflation to average 2% over time. And when we get that, that’s when we’ll raise interest rates,” says Federal Reserve Chairman Jerome Powell.
There is no other way to say it. The Fed chairman and his demented band of money printers are so blindly, mechanistically and monomaniacally committed to the will-o-wisp of 2.00% inflation that they are willing to literally destroy the money and capital markets in order to achieve it.