“Politically oriented monetary policies and business cycles are the inevitable by-products of a central bank, the ultimate favored banking institution which is viewed as a savior by some politicians facing elections. After the elections comes the bill: Inflation runs amuck. The nation goes into a painful recession, or the stock market crashes. Whatever the extent of the damage, monetary policy is always the primary cause of these economic woes.” Read more.
“The Fed and Politics”
Mises Daily, August 3, 2001.
Via the Ludwig von Mises Institute.
Image by Francesco Marino / FreeDigitalPhotos.net.
Related Articles – Business-Cycle Conditions, Central Banking, Monetary Policy, Sound Money Project