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that isn't accurate. there are shocks to the system that aren't monetary in nature for example COVID.

in theory the FED can mitigate such shocks TO SOME EXTENT but in case of COVID the shock was too large and trying to fix it with stimmies ultimately impoverished Americans but that was going to happen regardless once lockdowns happened.

there is no way to order people to stay home instead of going to work and avoid major economic pain as a result. it wasn't the fault of the FED. the FED did what they could to help but they aren't all powerful.

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VonMises 5mo ago

It’s definitely not 100 accurate but it makes a point

Dissident Sound 5mo ago

it argues that boom and bust cycles are created by the fed and although they can be it is equally true that those cycles can be trigged by other things and the FED can mitigate them

perhaps it is wrong for the FED to have a low unemployment mandate which forces them to print money to boost employment

economic growth ultimately has to come from demographics and education, not from monetary policy

we import retards, teach kids how to be retarded, ban people from going to work and then try to print our way out of economic downturns or unemployment - that is wrong

but this isn't really on the FED. the FED isn't part of the government. the government creates these issues and then demands the FED fix them.

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VonMises 5mo ago

That’s not entirely true. https://youtu.be/8HZSwoHwOhg?si=n2Bg1zxEgYRojWaZ