In 1913 it was President Wilson,
Who created the Fed.
For a safer; more stable monetary system,
So, they said.
They will oversee the economy,
Bring the system into form.
We need one central bank,
That can handle any storm.
They’ll lower or raise interest rates,
Move money in and out.
Hey, they can handle anything,
Why would anyone doubt?
Why is it that these people,
Who follow the data daily.
Can’t seem to handle the problem,
As well as George Bailey.
We can all probably agree,
They left rates too low for too long.
And then did the opposite,
Too fast and too strong.
While I studied economics and,
A lot of Biology too.
I guess that makes me qualified to be,
Fed governor of a zoo.
But here are my two cents,
My take on the situation at hand.
It really boils down to two things –
Supply and Demand.
Managing these two things, well
It’s like steering the Titanic,
Add in politicians, financial markets,
And things turn traumatic.
The Fed has a tough job,
And always seems late to the show,
But it’s a job most of us wouldn’t want,
no matter the dough.
But at the end of the day,
The song will remain the same.
They will continue to second guess,
Pontificate and pass on the blame.