Federal Reserve Board Chairman Jerome Powell takes questions during a news conference following a Federal Open Market Committee meeting, at the Federal Reserve Board Building in Washington, on Nov. 2, 2022. Mandel Ngan/AFP via Getty Images
Federal Reserve control over interest rates, combined with government money creation, distorts markets, causing booms and busts, high household debt, government deficits, and high real estate and education prices. President Joe Biden’s student loan forgiveness program will increase educational costs while increasing government spending by as much as $1.6 trillion.
Antonio Graceffo
Author
Antonio Graceffo, Ph.D., is a China economy analyst who has spent more than 20 years in Asia. Graceffo is a graduate of the Shanghai University of Sport, holds an MBA from Shanghai Jiaotong University, and studied national security at American Military University.
