Quote Originally Posted by Vteckidd View Post
Ill just refresh your memory.

Do you realize how much is wrong based upon this statement alone?

You insinuate that the FED was created to stop depressions and recessions, then say it cannot stop them or control them only lessen the pain, but then dont answer the fact that we have had 20-30 recessions and 2 depressions SINCE the feds creation.

Ok, so the ONLY goal of the FED is to print money to help during recessions right? Thats your argument?
I like how you are just picking a single part of my argument and ignoring all the other points I'm making but that's fine.
1) The Fed was not created to stop depression/recession, only to expand our ability to respond to it
2) I don't need to answer to how many recessions/depressions we have had because I have not claimed the Fed can stop them (see Item #1)
3) The goal of the fed is
- Conducting the nation's monetary policy by influencing money and credit conditions in the economy in pursuit of full employment and stable prices.
- Supervising and regulating banks and other important financial institutions to ensure the safety and soundness of the nation's banking and financial system and to protect the credit rights of consumers.
- Maintaining the stability of the financial system and containing systemic risk that may arise in financial markets.
- Providing certain financial services to the U.S. government, U.S. financial institutions, and foreign official institutions, and playing a major role in operating and overseeing the nation's payments systems.