Federal Reserve meets with protesters afraid that a rise in interest rates will hurt Dem election chances

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Well they didn’t say that exactly but everyone understands that a rate rise from the Fed might send stocks tumbling along with Democratic chances of taking the White House.

It’s interesting that the Fed folks met with these protesters as they seem quite uninterested in meeting with people who actually protest the insanity of the central planning organization (and who know what it does). The Fed critics far outnumber activists simply concerned with higher interest rates.

(From Fortune)

An unusually large group of Federal Reserve policymakers appeared before activists on Thursday and defended their plans to raise interest rates to keep the U.S. economy from eventually overheating.

Several policymakers said raising interest rates gradually would allow them to stimulate the economy for longer, but that an overheating economy could end in a recession.

“It’s not about trying to stop the economy from growing,” San Francisco Fed President John Williams told about 100 labor activists from the Fed Up coalition who pressed policymakers not to raise interest rates. “We’re going to keep this economy growing, we are going to run it hot.”

“We are going to run it hot.” What arrogance. The Fed central planners don’t “run” the economy. What they do more accurately is screw it up and protect the interests of its member banks when they’ve screwed things up too much.

Tell me President Williams, why is it that you have failed so dramatically at “running it hot” over the last decade?

End the Fed.

Click here for the article.

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