Forum Post: The Dems hate us, The GOP hates us, the FED likes us, What does THAT mean?
Posted 12 years ago on Oct. 9, 2011, 9:18 p.m. EST by MJT
(138)
from Phoenix, AZ
This content is user submitted and not an official statement
I think we're getting closer to understanding where the pressure points are: KEEP UP THE FIGHT - it's a big beautiful mess! Let it GROW!
The Fed is a popular scapegoat but they have two simple objectives that are not incompatible with the concerns of this movement: keeping inflation low, and keeping employment high.
Right. I really wish the U6 employment rate (unemployed, and people employed at poverty level, or under employed) should be reported by main stream media - the U6 is near 16%, not 9% as reported. This aspect is noted by the FED but not recognized by the media.
It is not one of the fed's goals to keep employment high. The fed handles monetary policies. For example controlling the supply of money to control inflation.
I respectfully disagree. Unemplyment rates are huge part of monetary policy. When unemployment's too high, they are pressured to lower interest rates. When inflation is too high, they are pressured to raise interest rates. I know it's a silly suggestion, but I recommend you play this flash game to gain a rudimentary grasp of what they do and why they do it. http://www.frbsf.org/education/activities/chairman/index.html
Employment is affected by their monetary policies. It is however not their goal to regulate employment rate. If inflation is high, the increase rates to bring it down. If it goes down, the fed lowers the rate. They do not try to regulate employment. Of course, they want inflation, employment etc to be at a good level because of their monetary policy. maybe it's not a big difference. Check out the federal reserve website.
I just gave YOU a link to the Fed.
I see it now. Monetary policy is the means to maintaing a healthy economy. It is not just the goal by itself.
It appears that you are the one who needs to check www.federalreserve.gov for more information about their mission, not us. I posted a quote here.
Why are people asking obama about unemployment instead of Bernanke? The goal can never be "monetary policy to maintain minimum employment.." etc :) I will post after more research.
"The Federal Reserve Board (FRB) was created December 23, 1913. It consists of seven members of the Board of Governors and divides the country into twelve districts with a Reserve Bank for each district. The job of this bureaucracy is to maintain employment, keep prices stable, and keep interest rates low by regulating monetary policy."
Source: Wikipedia
I think the author meant that in terms of maintaining sound money. A better reference (and way more uninteresting) reference is www.federalreserve.gov
"The Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded. Today, the Federal Reserve’s duties fall into four general areas: • conducting the nation’s monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates ..."
Source: www.federalreserve.gov
Yes by means of sound monetary policy. Maybe im splitting hairs here.
It means you need to get real jobs and stop smoking pot all day long!
I can't smoke pot all day. I have to put at least two hours of my day aside to hate the government, and then of course, there's a three hour black tar heroin binge, one hour for rejecting all of the endless full time jobs with benefits I'm being offered by America's great corporations and at least six hours goes into maxing out my credit cards on worthless shit. Very busy day- in fact, I rarely get to smoke!
It means you need to get real jobs and stop smoking pot all day long!
Har, Har - I dropped my bong laughing so hard! Seriously, though 'realjob2011' What do you have in mind? My real job is decent enough - what's your employment like now a days? Is the forecast for your industry looking up? How are your wages, year over year - better, flat, or worse?