Posted on 06/30/2024 12:42:28 AM PDT by Kaiser8408a
Talk like a Federal Reserve Governor!
A number of pominent cheerleaders (economists) have come out before CNN debate to claim that another Trump Presidency will generate even worse inflation than it has under Biden. Really? Before Covid struck in 2020, the last CPI YoY reading for Trump was only 2.34%. It rose to 9% YoY under Biden in June 2022. How did this happen? Federal binge spending and reckless Federal Reserve monetary policy.
The Nobel Prize -winning “economists” seem to have forgotten the unprecented money printing and interest rate suppression when Covid srtuck in 2020.
Of course, inflation soared after the massive Covid stimulus in 2020. It kept rising until The Fed started raising their target rate in 2022. But The Fed’s balance sheet remains elevated (green line).
In terms of M2 Money printing of Federal Reserve currency, M2 Money expanded greatly with Covid and continued to grow until 2022. Then M2 Money growth slowed as The Fed raised rates in 2022. Inflation started to decline (but price levels remained high) after The Fed raised rates and M2 Money growth stalled.
From Zero Hedge: With a Trump presidency looking virtually assured after Biden’s cataclysmic debate fiasco, the “expert” fear-brigade that defined Trump’s first term in office is out in full force, and last week 16 Nobel Prize-winning economists (not to be confused with 51 former spies) – who have previously been silent as a group over the brazen bull of inflation cooking Americans alive under President Biden, have teamed up for a pre-election collab to let us know that former President Trump ‘could stoke inflation if he wins.’
(Excerpt) Read more at confoundedinterest.net ...
No chit, Sherlock.
War brings inflation.
I’m guessing 51 intelligence experts would agree with these 16 economist!!
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