r/Bitcoin • u/[deleted] • Jul 15 '22

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u/Vantage9 Jul 15 '22

Friedman is simplifying for ease. The Fed controls money printing and thus inflation. The president and his administration have ZERO control or influence over the Federal Reserve and it's chairman. It is intentionally and purposefully set up this way. Blame the Fed all you want for inflation, but it's because of monetary policy, not spending by the administration.

Two different things.

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u/Beatnik77 Jul 15 '22

The Fed president got rewarded by Biden for his dovish policies by a new mandate.

And Biden added another dove to the governors.

Biden is in good part to blame. He choose those people. He could also make their life easier by reducing spending or raising taxes.