Jerome Powell Educates Senate On Fed 2 Percent Inflation Target

Federal Reserve Chair, Jerome Powell, appeared before the U.S. Senate Banking Committee on March 7, 2023, but this just came to my attention and I feel it needs to be shared much more widely so here it is. In the hearing (see video from Forbes embedded below), Senator Catherine Cortez Masto (D-NV) asked Chairman Powell what the basis was for the Federal Reserve’s 2 percent inflation target that he and other Federal Reserve leadership keep citing, over and over, as the center-piece of Federal Reserve policy…

How this video has less than 2,000 views is beyond me.

The Federal Reserve is America’s central bank, which is charged with setting “monetary policy” for the nation despite not even being mentioned in the U.S. Constitution. Central banking is a collectivist central planning monetary control mechanism with a history of slowly impoverishing the masses through currency manipulation and devaluation.

The Federal Reserve System is the third iteration of central banking in the United States. The previous two, the Bank of the United States and the Second Bank of the United States, were dismantled after creating havoc on the American economy. You can read more about the Federal Reserve and central banking in G. Edward Griffin’s book, The Creature From Jekyll Island.