However, this doesn’t mean I hold the view that we aren’t in a Federal Reserve-manipulated boom-bust business cycle. We are and it will eventually bust. Though, I expect the first crisis to emerge will be an unanticipated acceleration in price inflation.

Source: EconomicPolicyJournal.com: Fed Chairman Jay Powell Goes Full Denial

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The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians.

#ENDTHEFED

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