Not just cut taxes for the wealthy but hand out $2T in cash to wealthy people/companies while us regular people collected the falling pocket change.

It doesn’t change the fact that the US has an unsustainable growth in the national debt which continues every year. Broken clock right twice a day etc. The US spending more than it makes on a consistent basis is not good long-term. It’s a bipartisan issue, both parties regularly approve budgets well above what we can afford.

Jerome Powell is the fed chair, he was nominated to the post by President Barack Obama in 2012, he was subsequently elevated to chairman by President Donald Trump (succeeding Janet Yellen), and renominated to the position by President Joe Biden.

OP is a cryptocurrency bait-and-switch poster. They make these posts and then reply to comments with crypto shilling.

Here you go.

https://www.cbsnews.com/news/full-transcript-fed-chair-jerome-powell-60-minutes-interview-economy/

Bitcoin, with its fixed supply and decentralized production solves this.

Oh man, you really don’t know what you’re talking about AT ALL do you? You’re missing some crazy basic economic concepts.

Here’s to your USD being worth even less in 10 years due to an increase in supply.

The last time US Federal Reserve “printed money” to create more USD to decrease the value was March 2020 during the pandemic. The real term for this is “Quantitative Easing”. source

So not only is it NOT every year that new money is “printed”, the US Federal Reserve also does the opposite and removes that printed money reversing the value drop resulting in an increase in the value of your dollar. This is called “Quantitative Tightening”, and guess what? US Federal Reserve last started doing Quantitative Tightening most recently June 2022 and has kept doing it since then and is still doing it right now as we speak. Analysts are guessing the US Federal Reserve will likely stop doing this sometime in late 2024 or 2025 source

You know in the US government is authorizing all of this? The same person in your original OP link: Fed Chair Jerome Powell

The official monetary policy of the US Govt is to aim for 2-3% inflation every year 🥂.

Damn right! You know whats worse that 2-3% inflation? Every other scenario.

• Deflation: Where your money is worth more tomorrow than it is today. Everyone stops spending. Economy grinds to a halt.
• Stagflation: Where there is very high inflation (which would normally be an indicator of a hot economy) but the economy is slowing to a crawl
• Hyper inflation (inflation at 50% or higher): Where your paycheck and the end of week is only worth a small fraction of what it was when the week started. You get countries printing money like this:

At the end it was nearly worthless too.

Seriously, read a basic Economics 101 book. All this stuff and more is in there.

Lol Bitcoin…

Bitcoin is deflationary because there is a fixed amount of currency. But wealth isnt fixed, new wealth can be generated(or destroyed). And you want a currency that can adapt to that, otherwise you get a deflation(or inflation).

For example, i buy wood for 1 bitcoin. I make a chair that i want to sell for 2 bicoins(to compensate for my work). Thus i changed something that was worth 1bitcoin, into something that is now worth 2bitcoins(or at least 1+ bitcoin).

In a world where no new money can be created, money will just rise in value over time. Why? Because new wealth is created but no new money is generated. So current money can buy more things(since more things are generated over time).

But if 1 bitcoin can buy more things tomorrow than it can buy today, why would i spend it? I wouldnt. Thus i will be removing currency from the circulation(essentially hiding it under my matress). Which creates even more deflation and deflation is literally the worst thing it can happen in the universe.

Deflation discourages purchases and discourages investment. Why would i spend 1 bitcoin to buy wood to make a chair, when i can just save that 1 bitcoin under my mattress and get a chair with it in the future(since its value will rise).

The only people who support these things are economically illiterate people. There is a reason why there are almost no modern economist who are proponents of gold. It isnt because they are all sold out to governments, who just want to print endless money. It is because printing money is necessary for an economy.

The when and how money should be printed differs depending on the school but they all agree on this.

One of the main reasons that we abandoned gold as a currency was because rich people kept hording it, which meant that it was removed out of circulation. So you literally didnt have enough currency for the economy to function. Money is not a thing, it is a medium of commerce.

Also modern day production enables us to generate wealth orders of magnitude faster. Industrial revolution and the internet means that even if metal based economies could somewhat work in the past(due to mining), modern day economies have a much larger need for a fiat currency.

It’s been awhile since I saw a cryptobro in the wild. I have to assume you’re a very low effort troll.