This is obviously alarming, and if used to disregard the Judiciary's interpretation of law, unconstitutional. But I'm puzzled by the exemption of the Federal Reserve and FOMC. He's previously beefed with them, and would presumably find the additional leverage useful. Why explicitly exclude them?
Inflation is an extreme handout to the wealthy. Money is by definition zero sum, otherwise the word "inflation" would have no meaning. There are good questions around what an over leveraged loan is, but fundamentally, the supply of money is to some degree fixed at any given moment. The wealthy and powerful keep their money in tax benefited, inflation tracking assets. Many of those assets are stocks, and a major busin…
Debatable.
But the opposite, deflation, hits the poor much harder.
It was deflation, the gold standard, and the insistence of balanced budgets that caused revolutions all over the world:
* https://en.wikipedia.org/wiki/Austerity:_The_History_of_a_Da...
It was dropping prices that caused ferment in the US:
* https://en.wikipedia.org/wiki/Cross_of_Gold_speech
It was FDR getting off the gold standard and balance budgets that helped the US recover:
* https://bookshop.org/p/books/the-money-makers-how-roosevelt-...
* https://www.goodreads.com/book/show/24945314-the-money-maker...
> Money is by definition zero sum, otherwise the word "inflation" would have no meaning.
I have no idea what this even means.