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The Fed has created quite a lot of money, and excess money leads to inflation, so where is the inflation? This video starts with the very basics of money and credit creation, explaining that central bank money creation on its own is not very good at explaining inflation. Inflation comes from the whole system of central banks and member banks working together in a system called ‘fractional reserve banking’. Looking at economic history we see how the system usually works; how and why it is not working the same way currently. In addition we look at the flow of money to see where the money has been flowing and where the actual inflation has been occurring. This episode focuses on domestic monetary policy in the US, not on how the US functions as part of an international monetary system.
About the Speaker
Jerry Bowyer
Bowyer ResearchJerry Bowyer is President of Bowyer Research consulting firm, editor of the business channel of The Christian Post, opinion columnist for WORLD Opinions, host of Meeting of Minds with Jerry Bowyer podcast, host of Business in the Kingdom podcast on the Edifi podcast network, and author of The Maker Versus the Takers: What Jesus Really Said About Social Justice and Economics. He is also Resident Economist with Kingdom Advisors, serves on the Editorial Board of Salem Communications, and is Senior Fellow in Financial Economics at the Center for Cultural Leadership. He has been a Forbes.com columnist and a frequent commentator on Fox Business News, Fox News, and CNBC. Jerry lives in Pennsylvania with his wife, Susan.
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