The Federal Reserve’s easy money policies have created 3.5 million private jobs, if you believe Fed Vice Chairman Janet Yellen.
Michael Shedlock doesn’t believe her. But, he points out, even if you do believe that the Fed is creating 250,000 private sector jobs a month, it is doing so at an enormous cost.
“The Fed bloated its balance sheet by $2.3 trillion to allegedly create 3.5 million jobs,” Shedlock points out. “My math suggests it takes $657,142.86 in balance sheet additions to create a single job.”