Thread by @TheStalwart

There's a lot of bad criticisms of the Fed/modern central banks.

But if you want to attack the Fed, and actually be smart about it, you should internalize this logic from @teasri. The promise of keeping inflation stable is a gift to lenders. privatedebtproject.org/pdp/cmsb/uploa…

@teasri The reason why most Fed critics don't adopt this posture, is because most of the time their analysis is just moralizing in disguise. And in their moralistic framework of the economy, savers and lenders are good and consumers and borrowers are bad.

So most Fed critics will never attack them along the lines of being too kind to lenders, because it flies in the face of their puritanical worldview.