by Peter Schiff
Schiff Sovereign
In June 2022, when inflation was raging at over 9% in the US, Fed Chairman Jerome Powell admitted to a reporter, “we now understand better how little we understand about inflation.”
“Uh, that’s not very reassuring,” the reporter chuckled.
Talk about an understatement. The Fed Chairman has the power to control virtually everything in the economy.
He can conjure trillions of dollars out of thin air practically at will. He can raise and lower interest rates, push businesses and governments into bankruptcy, and cause people to lose their jobs.
Yet he flat-out admitted they didn’t have a clue about inflation.