The Daily Feather — Fame or Infamy?

There is fame. And there is infamy. Semant-addicts relish the distinction. The Latin fama translates to “celebrated;” the connotation is positive. And then there is infamis, or “of ill fame,” a legal tern referring to one who’s lost rights as a citizen after being convicted of a crime. These days, excessive energies are expended to shift the Federal Reserve’s standing to infamy. QI won’t hide its complicity. The famous Kansas City Fed’s Jackson Hole Symposium is held in the highest regard. In a recent Weekly Quill, we technically besmirched the confab’s pristine status by reminding the public about what was first highlighted when Fed Up was published in 2017 – The Bernanke Doctrine. The August 2007 behind-closed-doors agreement amongst a small group of the former Fed chair’s closest confidantes laid the groundwork for predicating that Large Scale Asset Purchases be preceded by taking the Fed funds rate to the zero bound. The legality of the meeting was questionable at best, hence the Doctrine’s infamy in an economy to which Quantitative Easing has laid waste.

Of course, this isn’t the first time the KC Fed has been designated as infamous.