The Federal Open Market Committee: Laughter at the Unemployed–Unacceptable, Disgusting

This blog has covered a terrible story (in the Intercept) in which some members of the Federal Open Market Committee (or FOMC, a committee that is supposed to work for all citizens) laughed at some citizens who suffered unemployment. This FOMC actually encourages unemployment through the increase of interest rates, in a desire to avoid inflation. But if some people die as a result of this inhuman policy seems to be acceptable as a cost of policy.

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Unemployment deprives people of cash needed for living. There must be a better way of doing macroeconomic policy other than placing the burden on nonwealthy people. With the leaders and membership of the Federal Reserve being largely composed of millionaires, the policy is extremely myopic and dangerous. In this environment, one can see how laughter at the poor and vulnerable could occur and be deemed acceptable.

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