Inflation That The Fed Once Claimed to be "Transitory" Is Now "Tamed" - My Response "Pffffffttt"

 

But, to be fair to the Federal Reserve, Congress is part of the problem.  It tasks the Fed with an impossible "dual mandate" of currency stability AND maintaining low unemployment.  So, Congress is part of the problem and since Congress is a representative body of the voting public, a large portion of the public is part of the problem.

I've written this several times over the course of several years - after observing the actions and habits of "Great Americans", the U.S.A. does not deserve the privilege of having the world's reserve currency and our rivals (China, Russia, Brazil, etc.) throughout the world agree.  The dollar will not disappear but its privilege of being recognized as the world's reserve currency is on life support (and deservedly so).