The Fed’s Immiseration of People Who Live on Interest Earnings. Por Robert Higgs.
The link between the Fed’s policies and this undeniable effect is too direct and too obvious for anyone, including the Fed’s managers, to overlook or misunderstand. We may only conclude, then, that the Fed’s managers either (1) want to wipe out the retirees and others who rely heavily on interest earnings or (2) consider these people’s immiseration an acceptable price to pay in order to achieve other objectives. Can any decent person approve such policy making?