Entry Submitted by Vee at 11:28 AM ET on July 27, 2022
If you had read my last two postings you’d seen that I had made reference to Judy Shelton,
Well wouldn’t you know it..
baader-meinhof phenomenon happened..
“You may have heard about Baader-Meinhof Phenomenon before. In fact, you probably learned about it for the first time quite recently. If not, then you just might hear about it again very soon. Baader-Meinhof is the phenomenon where one stumbles upon some obscure piece of information—often an unfamiliar word or name—and soon afterwards encounters the same subject again, often repeatedly. Anytime the phrase “That’s so weird, I just heard about that yesterday” would be appropriate, the utterer is hip-deep in Baader-Meinhof.”
So here last night I was listening to Dave of x22report and we most had been channeling to one another lol.. I said I wondered what she is doing ..
“Why the Fed May Soon Need Treasury Help” …
By Judy Shelton
July 26, 2022 (WSJ.)
Trump Fed pick wants to revive the gold standard. Here’s what that means
As President Donald Trump named his picks to fill two influential seats on the Federal Reserve’s Board of Governors, the price of gold surged. That may be because one of the them, Judy Shelton, is a believer in the return to the gold standard, a money policy abandoned by the U.S. in 1971.
Shelton is raising eyebrows among mainstream economists for her views, which include slashing the Fed’s benchmark rate to zero and pegging the value of the dollar to gold prices. She’s not the first Trump pick for the Fed to advocate a return to the gold standard, with his two previous failed Fed choices — Stephen Moore and Herman Cain — also advocating for a revival of the policy.
- Fed chair Jerome Powell slams idea of returning U.S. to gold standard
- Would Powel exit Fed chair even if Trump fired him? “No,” he tells Congress
In picking Shelton, Mr. Trump is aiming to place a supporter on the Federal Reserve, which he’s argued is slowing economic growth and depressing the stock market by keeping interest rates too high. The Fed currently is maintaining its benchmark rate in a range of 2.25% to 2.5%, but Shelton has said she wants to lower rates “as fast, as efficiently, as expeditiously as possible.”
I am pleased to announce that it is my intention to nominate Judy Shelton, Ph. D., U.S. Executive Dir, European Bank of Reconstruction & Development to be on the board of the Federal Reserve….
— Donald J. Trump (@realDonaldTrump) July 2, 2019
To be sure, Mr. Trump’s second pick, economist Christopher Waller, holds more mainstream economic views. The research director at the Federal Reserve Bank of St. Louis, Waller has expressed support for the independence of the Federal Reserve and allowing inflation to run a bit higher, in order to help the economy recover from slowdowns.
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