RE:RE:RE:Fed Sooner, the idiocy behind what the FED did is that the stock market and gold are at all-time highs, which is indicitive of the enormous amount of inflation that has has been "sheltered" in the financial economy versus the real economy. The true costs of inflation ultimately will be felt in the real economy leading to admission by all what an utter failure the FED has been.
In honesty, the entire dual mandate of the FED was nothing more than a ruse to sell the concept of a central bank to an unsuspecting (and gullible) American populace. The FED has failed on both fronts: Americans not working (and or dependent upon govt. payouts) are at record high percentages of the populace and we already know that inflation is a hot mess. If the FED has failed at both of its mandates, what exactly IS the purpose of it?
The whole point of this diatribe is that it isn't just the FED funds rate which is meaningless, it is the FED itself which is inept, useless and destined for the dustbin of history just as were the previous two iterations of the central banks which were torn down by patriots who put country first over the greed of the central bankers.
Trying to defend the FED is akin to trying to bail out water as the Titanic is sinking......it is a fruitless task. Yet, so many plebes hang on every word of Powell as this wizard behind the curtain dictates market direction. We have a lot of ignorant lemmings running around, but eventually they will come to their senses, realize that gold is real money and will flock to the gold-related equities that wise investors such as ourselves have already taken early positions in.