The Federal Reserve has purchased government debt by the trillions since 2008 thereby increasing money supply and expanded the balance sheet 16 times over the level before 2008.
Many economists knew or must have known that this can not go on and it will not end well! Especially not when other external shocks hit the U.S. economy (China Covid-19 lockdown, Russian war of aggression against the Ukraine etc.)
Between 2006 and 2018, the Fed had two awful Chairmen, i.e. Ben Bernanke and Janet Yellen! I have blogged about them several times.
P.S. It is very peculiar the Fed does not provide a time series going back further in time than end of 2002.
No comments:
Post a Comment