Fed's Daly Says Low Jobless Rate Isn’t Automatic Sign of Tight Labor Market

The San Francisco Fed leader says letting the jobless rate fall to very low levels has had big benefits

Inflation is among the most powerful forces in financial markets, but too much or too little can send the economy spiraling. Here's how it works, and how the Fed works to regulate it. Photo composite: Dom Amatore for The Wall Street Journal

I wonder if it is a mere coincidence that wealth began to be concentrated in the immediate wake of giving the Fed unbridled power over credit following the events of 15 AUG 1971. Of course I don't have a PhD in economics so I will defer to the geniuses at the Fed.

SFFED is likely concerned about today's enormous concentration of wealth. Well, she shouldn't have a hard time finding its source - the Fed! 'Inflation is the surest way to fertilize the rich man's field with the sweat of the poor man's brow.' See Bastiat also.

these Fed apparatchiks need to all go to prison, or at very least get real jobs.

I guess she didn’t live through the seventies.

Oh yeah, inflation is awesome now.

one thing we know for certain that economists don’t know much.

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