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The Piketty Solution
Federal Reserve Chairman Jerome Powell announced last week a continuation of the Fed's policy of purchasing government bonds in order to stimulate economic growth and reduce unemployment despite an uptick of inflation above the Fed's target. This move prompted the Wall Street Journal to speculate that the Fed might also view inflation as a mechanism to cut the enormous size of the public debt; a mechanism recommended by the Marxist economist Thomas Piketty and other progressives. In this podcast, the Edifice of Trust host, Victor Bolles, discusses at the efficacy of this strategy and the…
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