Posted on 10/17/2021 4:47:42 PM PDT by Browns Ultra Fan
Has The Federal Reserve lost control of the economy? And inflation? The answer is likely yes. Why?
The Covid crisis has been played by the Federal government as an excuse for insane levels for spending coupled with massive monetary stimulus from The Federal Reserve.
As an example of The Fed losing control is US savings. The Fed’s model is to drive savers into consumption, therefore raising production and increasing GDP growth. But alas, The Fed can’t overcome the fear faced by consumers with Covid, Covid shutdowns, and rapidly rising prices.
Here is a look at The Fed’s record under Obama, Trump and Biden. The Fed raised their target rate only once under Obama until Trump was elected. Then The Fed raised rates 8 times. Then began lowering them again (5 times) leading to a big drop when Covid stuck. So for Trump, The Fed changed their target rate 13 times compared to 1 rate change under Obama and none under Biden.
Still think The Fed is apolitical? They are the financing wing of the Democrat Party.
(Excerpt) Read more at confoundedinterest.net ...
Didn’t they buy stock when Obama was President to keep the market up .LOL
Absolutely correct.
Indeed. Fed Chair Powell was one of several appointments that I can’t understand what Trump was thinking.
They kept interest rates too low regardless of who the president was. Interest is a market function of making borrowing more thoughtful, instead we have had cheap money. Cheap money will destroy the future and world.
You post another fake headline and I’ll suspend you.
Their attack on the american people is stil ongoing.
So no real surprise people are holding onto it.
They were trying to impede Trump as much as possible and limit the growth of the economy. They kept their foot jammed onto the brake pedal. They claim that is to prevent “overheating” causing inflation.
Of course, dumping trillions into the economy, and the supply of goods getting severely restricted, that’s not inflationary at all. /s
We save my husband’s cash tips. We haven’t deposited them into our bank accounts for about a year. Ppl have been tipping very well since the restaurant opened back up a year ago. I just don’t trust my own govt. anymore, which is so sad.
“$2.7 Trillion in Crisis Savings Stay Hoarded by Wary Consumers”
most likely, a goodly portion of those savings would be spent IF there was something to buy that was reasonably priced ... right now, autos can hardly be had at any price, and housing is priced at major bubble levels ... many major household appliances are also in short supply with extreme lead times ... computers and other consumer electronics are likewise unavailable and/or priced exorbitantly ... as long as the old ones are still working, many folks are just trying to wait out the shortages and inflated prices ...
Consumers hoarding money?
That cannot be true as I heard the white house spokesman and that Transportation secretary say that they reason the selves are bare and the ports backed up is because consumers are buying so much.... !!
They are insane!
many folks are just trying to wait out the shortages and inflated prices ...
Yes. Yes they are.
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