The Big Fed Selloff Is About To Begin

The Fed announced today that the economy was in such whopping good shape that they plan to start selling off all the assets they accumulated as a result of three rounds of quantitative easing during the Great Recession. Is this a good idea? Is the economy really doing that great? That’s above my pay grade. To be honest, I don’t quite understand why they can’t just light the whole mess on fire and forget about it. Bad precedent, I suppose.

Anyway, just to give you some context, here’s the job facing the Fed. They’ve got a lot of assets to get rid of. I guess we’ll find out soon enough if the economy is doing well enough that the Fed’s selloff doesn’t tank the stock and bond markets. Cross your fingers.

DOES IT FEEL LIKE POLITICS IS AT A BREAKING POINT?

Headshot of Editor in Chief of Mother Jones, Clara Jeffery

It sure feels that way to me, and here at Mother Jones, we’ve been thinking a lot about what journalism needs to do differently, and how we can have the biggest impact.

We kept coming back to one word: corruption. Democracy and the rule of law being undermined by those with wealth and power for their own gain. So we're launching an ambitious Mother Jones Corruption Project to do deep, time-intensive reporting on systemic corruption, and asking the MoJo community to help crowdfund it.

We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

Thanks for reading—whether or not you can pitch in today, or ever, I'm glad you're with us.

Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

payment methods

We Recommend

Latest