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End the Fed’s Cat-and-Mouse Game to Tame Inflation

An increasingly politicized and power-hungry Federal Reserve is doing the economy, and the average American, little good with its short-term “fixes” for inflation. We need to return to restraint and independence from shifting ideological winds.

Nine times. If you’ve seen the classic ’80s film Ferris Bueller’s Day Off, you recognize and can hear the principal’s voice. Ferris, an overconfident and overzealous teenager, has managed to ditch school with his two pals—again. The movie depicts a classic cat-and-mouse game between the principal, who is determined to catch the reckless high schoolers, and Ferris, who eludes him at every turn. When the principal calls Ferris’ mother to report his absence, she is flummoxed to learn that Ferris has already missed nine days of school. “I don’t remember him being sick nine times!” Americans are equally flummoxed that the Fed Reserve has raised its benchmark interest rate nine times since March of last year. Many economists predict that more rate hikes are looming, at least through the summer. Nine times … and counting.

Read more at Acton