Fed's Evans Says Fighting Inflation Is the Top Priority Even If That Means Job Losses

https://www.nbcnewyork.com/ ^ | October 10, 2022 | By Jeff Cox,CNBC

[RoosterRedux]

The Fed has only one remedy. When all you have is a hammer, everything looks like a nail sticking up.

If we want to start fixing inflation, the very first step is to fire up our oil and gas industry (exploration, drilling, refinery). And then get rid of this global warming crap. If global warming/climate change is a problem, start with the major contributors to it...China and India.

And for God's sake, cut the government down to size and quit shoveling money to political constituents.

[M-cubed]

All this pain and misery because of a cold virus.<<<<

No...All this pain and misery because of a planned biological attack to allow mail-in ballots......without them... Trump would have won in a landslide...

[ConservativeInPA]

The Chairman of the Fed routinely appears before Congress and advises them. Fed is also a creation of Congress and has zero authority to order Congress to do anything.

Yes, and I watch those hearings. Powell is an American citizen (I think, maybe a ChiCom, you never know), and like any citizen has freedom speech. He can recommend actions that congress can take, just like any citizen. He doesn’t. He doesn’t layout any plan other than what the FMOC might do. Congress on the other hand has no plan, unless you call the Inflation Reduction Act a plan. All that does is make inflation worse. Biden’s plan is let the Fed do it’s job. That’s not a plan.

The authority you mention doesn’t mean jack shit. What we need is a leader that has a frickin economic clue. By the way, Powell is not that leader. He’s a mix of a Keynesian-Modern Monetary theorist. In other words, an economic mental midget. He talks like a timid pussy and lacks confidence and conviction.

[rlmorel]

Sigh. I admit, I have been seeing the edge of the cliff looming for a long time.

I wish I were wrong. I hope I am wrong. I pray I am wrong.

But I don’t think I am wrong. I intellectually see it that way, and my heart, wishing for something far different, sees it that way as well.

There is something to be said for a degree of resiliency that is inherent to our country and economy, but I believe most people don’t have any idea how closely interconnected many things are. Dangerously closely inteconnected.

That old saw about society being four meals away from anarchy has a ring of truth to it. Especially when it isn’t just food that is in short supply, but things like the ability to heat your home during a bitter cold winter.

[RideForever]

This will only work if a Fed employee is fired for every non-Fed who lost their jobs from federal actions.

[minnesota_bound]

Congress spending $4.6 trillion!! and they will not stop that spending. They actually want to increase it!
They do not care about the damage to peoples lives they cause.