Fed-Fueled Delusion: Why Artificially Low Interest Rates Don’t Create Growth—They Destroy It

Let’s stop pretending that the Federal Reserve is in the business of growing the economy. It isn’t. It’s in the business of manipulating signals, distorting markets, and misleading investors, savers, and the American public into making financial decisions based on fictional price signals. Frank Shostak, in his recent piece for Mises Wire, masterfully cuts through the fog of Keynesian propaganda. He reminds us what the Fed and its cheerleaders never will: Interest rates aren’t tools for technocrats—they're prices. Prices that emerge naturally from individual time preferences, rooted in human action. When you tamper with those rates, you're not just tweaking a dial. You’re detonating a bomb inside the productive structure of the economy. The Fallacy of “Stimulus” We’ve heard it…