It would be a mistake to think that QE is the first time the Fed's policies have benefited the well-to-do at the expense of the average American.The Fed’s polices have always benefited crony capitalists and big spending politicians at the expense of the average American.The well-connected benefit from inflation, as they receive the newly-created money first, before general price increases have spread through the economy. It is obvious, then, that middle- and working-class Americans are hardest hit by the rising level of prices. Far from promoting a sound economy for all, the Federal Reserve is the main cause of the boom-and-bust economy, as well as the leading facilitator of big government and crony capitalism. Fortunately, in recent years more Americans have become aware of how the Fed is impacting their lives.
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