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A comment on Payroll employment rises by 353K in January; unemployment rate remains at 3.7%. Parent comment

Re:Payroll employment rises by 353K in January; unemployment... by sudisjensobshs on Friday February 02, 2024 @10:06AM (#39229395)
The fed was created to prevent the boom bust cycles we’ve seen for the past 100 years. I don’t think “making it hurt less” when your entire purpose is to avoid the pain is praiseworthy.

But who’s to say - maybe the rains do actually keep coming because we make all those sacrifices to the gods.

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Re:Payroll employment rises by 353K in January; unemployment... by HDThoreaun on Friday February 02, 2024 @11:32AM (#39230646)
They deserve praise because their job is incredibly difficult. Just because its what theyre supposed to do doesnt mean its easy. I give praise to my coworkers when they do a good job, and our work is way easier than the feds.
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Re:Payroll employment rises by 353K in January; unemployment... by eru on Friday February 02, 2024 @09:00PM (#39236932)
The creation of the Fed was a complicated process with lots of political horse trading.

And until at least the 1980s the Fed did worse than the (broken!) system that they replaced.

See https://www.cato.org/policy-report/november/december-2012/ha... about the Fed.

On the positive side, Canada would have been an excellent role model to emulate, instead of coming up with the Fed system: https://www.cato.org/blog/there-was-no-place-canada

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