This past week, Janet Yellen, chairwoman of the Federal Reserve, delivered her semi-annual monetary policy report to congress, confidently supporting the Fed’s ultra-low interest policies. While critics in the legislature and economists alike were quick to question her unabashed conclusions, market investors continued to exploit capital gains on their portfolios. In her recent article, published by the New York Sun, Dr. Judy Shelton, of the Atlas Network’s Sound Money Project, asks a simple question: what if Ms. Yellen is wrong?
Throughout the article, Dr. Shelton tackles some tough questions regarding the Federal Reserve’s “efforts to engineer a recovery by suppressing interest rates” and concludes that they actually “may be inflicting permanent damage on the capacity of the United States to forge its own dynamic path to renewal.” Noting the impact of monetary policy on global financial stability, that’s a terrifying thought.
To read Dr. Shelton’s article in it’s entirety, click here.