…some interesting statements by former Fed Vice Chair Richard Clarida and his ducking of questions on the Fed’s role in this mess.
Image of Richard Clarida from video below
Credibility Problem and Disconnect
Richard Clarida on Squawk Box
Q: Is the fed data dependent or are they going to 4% come hell or high water.
Hmmm….prior and during COVID the FED dropped to practically 0%
Was that right or wrong?
Now the new FED has raised the rates many times in 2022
March +.25% to .50%
May +.50% to 1%
June +.75% to 1.75%
July +.75% to 2.25%
With more to come to get to 4%. (WTF?)
Is these rates right or wrong?
I do know, FED is using past experiences/practices to try to flatten out the economy.
Maybe past expereinces or past practices dont work in the 21st Century. For the FED to speak and say the USA needs to feel the hurt – WOW. Talk about pumping up the masses ding dong!
Where is greenspan when this nation needs his expertise.