The Left – Democrats – are now prepared to destroy the Federal Reserve next. The House passed and sent the Federal Reserve Racial and Economic Equity Act to the Senate.
The bill would require the Fed to “carry out its duties in a manner that supports the elimination of racial and ethnic disparities in employment, income, wealth, and access to affordable credit.”
The Reserve’s actual mandate is to seek maximum employment and stable prices. That’s it, and that’s all it should be.
The Left wants to add Marxist equity to the Reserve’s mandate. Yet, equality, not equity is the nation’s founding principle.
This is another push towards socialism/communism.
The Wall Street Journal wonders if some of these bankers agree with adding WOKE to the Reserve.
…Several Federal Open Market Committee (FOMC) members promoted the goal of “inclusive” employment even as inflation began to creep up.
Democrats plan to codify Marxism..
Now House Democrats want to codify racial equity as part of the Fed’s mandate. Their bill would require the Board of Governors and FOMC to “exercise all duties and functions in a manner that fosters the elimination of disparities across racial and ethnic groups with respect to employment, income, wealth, and access to affordable credit.”
Democrats use race to push their hard-left agenda while doing nothing much to help black people.
The bill directs the Fed to include race in monetary policy, the operation of payment systems, and the supervision of banks and non-banks deemed by the Financial Stability Oversight Council to be systemically important.
If they think they are helping certain people, they aren’t. If the Feds can’t do their job, and inflation worsens, it’s minorities, the poor, and the elderly who are hurt the most, as The Daily Caller noted.
Nothing new here. The CCP has ordered the Obiden Junta and their agent in charge Austen to cripple and destroy the US economy. The Obiden Junta is carrying out their masters orders. What are we going to do about it? If you actually believe a new Republican Congress can stop them I have a bridge in Brooklyn to sell you. … Read more »
The “Hate America Party” is bent on depleting all of our reserves.
The FED should be done away with. They, and they alone are the cause of inflation….
How right you are! NO inflation for thousands of years till the FED.
Democrats are doing all they can to destroy America and return the Nation to the days of the pre-Civil War South. Once Democrats destroy the Dollar as the Reserve Currency, America is done!
Perhaps not. We are already seeing the “reinvention” of money — money as it was and should still be: precious metals. Activity in the precious metals markets is booming. More reaches the hands of ordinary Americans daily. Those gold and silver coins will still be valuable and tradable even if the dollar should “go to zero”…which, given the behavior of… Read more »
Gold and Silver may have value, but Land and Lead has power.
Mr. Porretto<
I appreciate the possibility of your comment. I do wonder though; have you heard of MMT? Modern Monetary Theory
If not, check our Glenn Beck’s “The Great Reset”
Trump helped blacks in many ways Including economically and false imprisonment). The party “for the black race” (but in reality effectively slave owners is here rightfully described: while doing nothing much to help black people. Consider how black income went up a lot under trump after buying power went down under Obama/Biden. (Of course those two got wealthy!) Consider how… Read more »
The lunacy will not end, you well know…as long as the malevolent evil of the left and their ‘brown nosed wipes’ in the media continue their encroachment with the help of the ‘turdy’ RINOS…