Where is the federal reserve leading us?
June 19, 2003 8:58 PM Subscribe
Monetary Policy in a Zero-Interest-Rate Economy [pdf] This report written by the Dallas Fed is amazing. Amongst other things, it outlines a plan to tax your savings as a way to continue to stimulate consumption should rates fall to zero. While opinions of the 'fed range from worship to outrage, their actions raise some serious questions. Why does this unelected group wield so much power? At what point are their actions (taxing savings) a violation of our property rights? If our economy is built on capitalism, why can we not be capitalists and embrace the opportunity presented by both boom and bust? At what point are we a command economy?
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