The Fed doesn’t deserve all of the blame for this inflation surge

MarketWatch/Kenneth Rogoff/5-5-2022

photograph of President Joe Biden and Fed chairman Jerome Powell

“A growing crescendo of commentary places the blame for the current surge in U.S. inflation squarely on the Federal Reserve. But much of the criticism is stupefyingly naive about the political pressures that the Fed and other central banks around the world have had to navigate in recent graphic image of a book and reading glasses A Good Weekend Readyears. In the United States, pressures on the Fed reached a peak when the Democrats, eager to put progressive ideas into practice, took control of the White House and Congress in January 2021.”

USAGOLD note: This article goes a long way in undermining the notion that the Fed is free of politics.

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