MarketWatch/Mike Murphy/6-6-2021
“‘We’ve been fighting inflation that’s too low and interest rates that are too low now for a decade,’ she said. ‘We want them to go back to’ a normal environment, ‘and if this helps a little bit to alleviate things then that’s not a bad thing — that’s a good thing.’”
USAGOLD note: The Biden administration and the Fed want a new “new normal” that is an upgrade from the old new normal which was actually secular stagnation. At no time, though, did she mention allowing the real rate of return to go positive or that the Fed would quit printing money being applied to the federal government’s financing needs. With the statement, Yellen identifies the elephant in the room – the Japanification of the United States.
