Synopsis
This book critiques US monetary policy since 1952, arguing that the Federal Reserve's focus on tight money and rising interest rates has severely damaged the economy. The author claims that these policies have cost the US trillions of dollars in lost production and millions of jobs, while exacerbating income inequality. The author instead proposes that the Federal Reserve prioritize expanding the money supply in line with economic growth targets set by the President's Economic Report. Doing so, the author argues, would lead to a more robust economy that benefits all Americans.
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The Toll of Rising Interest Rates The One Great Waste in the Federal Budget Classic Reprint
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