The Federal Reserve was no doubt troubled by July's decline in the U.S. unemployment rate

to 4.5 percent and increased in job openings to 11.2 million.

This is because the fifth strategy for reducing the historic price inflation, now plaguing

the economy caused by the Fed's unprecedented low or zero interest rate policies is to increase

unemployment in order to decrease consumer spending. In his speech to the annual monetary policy

conference in Jackson Hole, Wyoming, Fed chaired Jerome Powell re-iterated his commitment to

increasing unemployment or, as he puts it, softening the labor markets. Powell is correct that

reducing price inflation is urgent. He is also correct that doing so will increase unemployment

and slow economic growth. The Fed's efforts to bring down inflation by increasing interest rates

will also make it harder for average Americans to obtain home mortgages, purchase a car,

or even pay their utility bills. Those hardest hit by the Fed's softening of labor markets are also

the primary victims of the Fed-created price inflation. This demonstrates the insanity and cruelty

of the Fiat Monastery system, which enriches the elites while impoverishing the masses.

Well-connected members of the financial elite and Croni Capitalists benefit from the Federal

Reserve's money creation as they are the first recipients of the new money. This enables them to

increase their purchasing power before the new money has caused general price inflation. By the

time the money creation has impacted the middle and working classes, the economy is racked with

widespread price inflation. Therefore, a nominal gain in wages is not enough to compensate for the

real price increases. So average Americans suffer from both Fed-created inflation and the Fed's

attempts to rein in that inflation. It is amazing that more individuals do not question the idea

that inflation, recessions, unemployment, and booms and buss are necessary features of a sound

monetary system. Even many otherwise staunch defenders of free markets maintain a child-like

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