Don’t care about us

I think the board of governors of the Federal Reserve Bank are nothing but lackeys for Wall Street. The Fed acts as if it were a subsidiary of Goldman Sachs, J.P. Morgan, etc. Some of its governors have been exposed in a stock scheme that made them millions of dollars. The governors should have some kind of a blind trust. It seems the only thing the governors are blind to is corruption.

“The Fed,” as it is known affectionately by CNBC, Fox Business, etc., continues to print trillions of dollars that are supposed to trickle down to us common folk and grow the economy. This money goes directly to Wall Street and there it stays. It is used to inflate stock prices and make billionaires out of a few people and heaven knows what else.

At a recent briefing a reporter asked Chairman Jerome Powell if there was a problem with corporate debt. His response was no. That is because the Fed printed trillions of dollars to pay off practically all the corporate debt in America. The Republicans are always touting the evils of socialism. Ever heard of corporate socialism?

The Fed is sticking it to us people in the middle and lower classes. I learned in Economics 101 at UCA that the more money you print, the less it’s worth. Have you been to the grocery store lately? I can barely afford to buy a gallon of milk due to inflation. This is a hidden tax on us.

They look at their spreadsheets and think everything is going fine. They need to get out in the real world. God help us if the Fed’s policies cause hyperinflation and the people look to some demagogue like Adolf Hitler or Donald Trump to get us out of the mess. JOHN ROLLANS

Little Rock