When you're slowing the economy, you're trying to put people out of work.

That's your job, is it not?

My duty is to achieve maximum employment and stable prices, and to supervise and regulate banks.

Can the president fire you?

No.

Every single quarter, the financial world waits with bated breath to see what the Federal Reserve will do.

And today, Federal Reserve Chairman Jerome Powell announced the Fed's newest decision on setting the so-called federal funds rate,

the interest rates we hear about so much in the media.

Banks wait on it. Investors wait on it. Businesses wait on it. And thus, consumers wait on it.

This means that, in reality, the global economy is controlled

not by businesses or corporations or even legislatures. It's controlled by a select few central bank

pseudo experts who decide whether your products ought to be more or less expensive, whether

your savings ought to be decreased or increased in value, and whether, in the end, you ought to

keep your job or lose it.

When you're slowing the economy, you're trying to put people out of work. That's your job,

is it not? The Federal Reserve has a dual mandate. Keep inflation low, the Federal Reserve targets a 2%

annual rate, and unemployment low.

The Federal Reserve engages in so-called monetary policy.

This is all about the amount of money and credit in circulation.

As a central bank, we have the ability to create money digitally, and we do that by buying

treasury bills or bonds or other government

guaranteed securities and actually increases the money supply.

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