Feud at The Fed: Horrific Consequences for Unlimited Easingselfnews Post Reuters isreportingtoday on these deep divisions at the Federal Reserve: In fact, they dont even pretend to be achieving these duties anymore. Both Evans and Fisher agreed that fixing unemployment is more important than controlling high inflation. Therefore, theyre willing to trade one for the other. I am not worried about inflation right now, I am worried about an underemployed workforce in America, said Fisher indicating that he is willing to go along to get along despite his horrific consequences remark. Evans believes the Fed should keep interest rates at zero, continue or evenramp up purchasing Treasuries and mortgage-backed securities until the unemployment rate is 6.5 7 percent and inflation doesnt threaten 3 percent. And, of course, they are using the official numbers for inflation and unemployment which everyone now knows are bogus to begin with. The only reason the official unemployment number is marginally improving is because hundreds of thousands are scrubbed from the equation. In September, Bloomberg reported, The unemployment rate fell to 8.1 percent from 8.3 percent, but that was only because 368,000 people left the labor force. The share of working-age people who are either working or looking for workknown as the labor-force participation ratefell to its lowest level since September 1981. Read other articles by selfnews Post Here 