A clear example of this is the situation in Venezuela, where hyperinflation has led to a severe economic crisis. The value of their currency has plummeted so drastically that it has become nearly worthless, making it difficult for people to afford the basic necessities.
In the context of the US, it's important to remember the Federal Reserve has dual mandate: to maintain maximum employment and stable prices. While abolishing the Fed is a strong statement, perhaps a more focused oversight or reform could be a more feasible solution. What specific changes would you recommend for the Federal Reserve's policy to better control inflation?
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