Fed Makes Itself a Permanent Economic Menace

The financial media treated as a virtually routine, “expected” announcement, an astonishing declaration yesterday from the Federal Reserve Open Market Committee that the Fed would continue quantitative easing at least at $120 billion/month in security purchases from banks, until its supposed “full employment mandate” is achieved and inflation stays above 2% for a long time. This was meant to be understood as “indefinitely,” for years — unless someone stops them.