As Fed And Treasury Spend $1.2BN Every Hour Biden Says Inflation Is “Temporary”, Respects Fed “Independence” | ZeroHedge

To the immortal words of George Orwell that “War is peace. Freedom is slavery. Ignorance is strength”, we can now add that inflation is deflation.

There was a remarkable statistic in the latest Flow Show report from BofA’s Michael Hartnett: according to the CIO’s calculations, “the Fed is  spending $336 million every 60 minutes buying bonds, while the US federal government is spending $875 million every hour this year”, a staggering amount made possible only by the recent merger between the Fed and Treasury which ushered in not only helicopter money but its socialist offshoot, MMT. It’s also what so many monetarists argue is behind the recent surge in inflation, because Milton Friedman said best, “inflation is always and everywhere a monetary phenomenon.”

Source: As Fed And Treasury Spend $1.2BN Every Hour Biden Says Inflation Is “Temporary”, Respects Fed “Independence” | ZeroHedge

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