Judy Shelton; & Fed cringes at, “Why do we need a central bank?” @josephsternberg @WSJOpinion

Feb 19, 03:40 AM
Image: Image: Frankfurt, financial capital of Germany.

Joseph Sternberg, author, The Theft of a Decade: How the Baby Boomers Stole the Millennials' Economic Future; and WSJ editorial board; in re: Judy Shelton’s nomination to the Federal Reserve Board in the Senate is under abeyance.   Where’s productivity?  Why does Judy Shelton think that even if we work as hard as we can, we can’t match the productivity of our parents’s (or grandparents’s) generation: because we need to return to some form of the gold standard, which would put the Fed out of business is several matters. This is because of the Fed, which has been unable to keep up. Price signals are going wild because the dollar and other currencies are unmoored; when central banks try to manipulate value, productivity cannot be maintained.
Judy Shelton was director of the Sound Money Project at the Atlas Network; in 2012 she joined TheGoldStandardNow.Org as a senior advisor.  In March 2018, she was confirmed by the U.S. Senate as the United States director of the European Bank for Reconstruction and Development.  Shelton is known as a critic of the Federal Reserve. She has called for a 0% inflation target, contradicting the bank's current 2% target. She has written that a "fundamental question" of economics is, "Why do we need a central bank?"

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| English: Frankfurt, financial capital of Germany.
| Date | 17 April 2014, 21:25:27
| Source | http://www.sz-photography.de/frankfurt-17-4-14/
| Author | Stefan Zinsmeister
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