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The Fed's Monetary Policy Ironically Hurts the Poor the Most...

Because of the dual mandate that the Federal Reserve tries to live up to, it is slowly killing the financial situation of lower income Americans. The Federal Reserve currently tries to balance price stability with employment. I believe that this dual mandate sets the Federal Reserve up for failure. Instead of attempting to manipulate the economy in the short-run and create jobs, the Fed should focus solely on price stability. The attempt to pump more money into the economy through QE2 has good intent, but is completely wrong! This can be seen through the rise in commodities already. Oil prices have gone through the roof of late and many other food based products are being their upward trajectory. In essence, this is the worst thing in the world because it is a major quasi-tax on American's majority. Democrats and the majority in the Federal Reserve will never admit to this, but they are the ones causing this outcome to occur. Once the Federal Reserve focuses on solving the true structural problems of the U.S. economy, mainly the large and growing deficit, only then will the base be set for job and long-term economic growth. If you want the right principles for economic growth, take a look at Wisconsin Representative Paul Ryan's economic policy videos on Youtube. This man has the right ideas for how the Federal Reserve should operate to help spur job and economic growth in America.