Fed. on Facebook.

fed on facebook

As of two days ago, the Federal Reserve created its own Facebook pages. Apparently it was a complete disaster as they  once again demonstrated complete ignorance about the realities around them. Perhaps soon you will not have to listen to Yellen or any other fed regional president as they will give their guidance or propaganda through social media.

It is worth a quick read. Here is amusing excerpt for starters;

Board of Governors of the Federal Reserve System

20 hrs ยท

One of our 5 key functions is promoting consumer protection and community development.

We work to ensure that consumer and community perspectives inform Federal Reserve policy, research, and actions to promote a fair and transparent consumer financial services marketplace and effective community reinvestment.

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Hope that this fourth mandate (??) is now perfectly clear. By the way, you are absolutely right that this has nothing to do with EW.