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Nelson Saiers

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CHEAP MONEY IS OUT OF ORDER

This installation addresses "cheap money," inflation, and the Federal Reserve (in finance, "cheap money" is a monetary policy where the Federal Reserve sets low-interest rates.)

The work features an old-school gumball machine filled with $10 bills offered for 50 cents – literally cheap money.

The choice of $10 notes is a nod to Alexander Hamilton, the face on the bill, who was a huge advocate for a "national bank." As well, his ideas provided the foundation for the creation of the Federal Reserve a century later.

The “out of order” sign raises fundamental questions about the Fed over the last several years both economically and ethically. It also relates to the Fed’s hawkish turn (Jerome Powell’s remark about retiring “transitory”, and tapering), which means it may soon be harder to get cheap cash.