The Fed Must Repeal Its Disastrous Rate Increases | RealClearPolitics

The Fed Must Repeal Its Disastrous Rate Increases | RealClearPolitics: With the stock market falling another 8 percent in the wake of the Federal Reserve's decision to raise interest rates earlier this month, it's now clear that the biggest threat to the Trump economic boom is the Fed itself.

At a time of strong growth, wage gains, and record low unemployment, Fed policies have created one of the most dangerous deflation cycles in decades. Falling prices -- which we are seeing now in farm products, oil, silver, copper, iron, and so on -- can be as destructive to growth as inflation was in the 1970s. The job of the Fed is to keep prices stable, yet this year prices of all commodities are down 12 percent -- with most of that decline following the two disastrous rate increases, first in September and then another one a week before Christmas.

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