Jerome Powell: “Printing money does not cause inflation”

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We’re f^cked.

Quote:In response to a questions posed by Congressman Warren Davidson about whether “M2 [money supply] going up by 25% in one year” is going to “diminish the value of the U.S. dollar,” Powell responded, “there was a time when monetary policy aggregates were important determinants of inflation and that has not been the case for a long time.”

“Does the printing of more US dollars diminish the value of dollars held?”

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“That has not been the case for a long time”

^ This indicator, which tracks the amount of dollars printed, was discontinued by the Fed months ago.

To repeat:

We’re f^cked.

The USA is following the same footsteps of the Weimar Republic. Venezuela. Zimbabwe.


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