Posted on 06/23/2022 12:49:54 PM PDT by MtnClimber
So Putin didn't do it after all. Sorry, Joe.
So Putin didn't do it after all.
That's the uncomfortable-for-Joe-Biden verdict on inflation from Federal Reserve chairman Jerome Powell, in testimony to Congress yesterday.
According to Fox News:
Federal Reserve Chairman Jerome Powell on Wednesday appeared to contract President Biden's repeated insistence that Russia's invasion of Ukraine was the primary driver behind inflation in the U.S.
During a Senate Banking Committee hearing, Sen. Bill Hagerty, R-Tenn., got Powell to admit that inflation was high well before Russia's Feb. 24 invasion of Ukraine.
Hagerty noted that in December 2021, inflation has risen to 7% — up from 1.4% in January 2021, when President Biden took office. Since Russian tanks rolled across the border of Ukraine, inflation has risen incrementally to its current level of 8.6%.
With these statistics stated, Hagerty asked Powell if he believed the war in Ukraine was the "primary driver" of inflation as the Biden administration has tried to portray.
(Excerpt) Read more at americanthinker.com ...
I bet sniffing and groping Joe enjoys feeling (like) a boob.
I think he meant to say,an even bigger boob.
Not an easy thing to do.
I’ve never seen a boob that ugly.
Powell (and everyone who can think) should be pointing out that the Fed has a limited and specific set of tools. They can influence, but not completely control, the money supply, they can influence, but not completely control, SHORT term interest rates, and they can adjust the reserve requirements for banks.
Since the Congress saddled the Fed with two responsibilities (control inflation and maintain full employment) which are often in conflict, the Congress and the Executive branch have lost any sense of FISCAL responsibility.
When the Federal Government buys anything, they don’t care one whit for its cost. So no tinkering with interest rates can have any short term effect. And when they just give money away, no value was created to support the money the recipients now get to spend. This is MMT at its root.
The ENTIRE problem is the failure on the fiscal side. Other problems, like gasoline and energy costs, have been exacerbated by incredibly stupid Leftist policy objectives, and these continuing idiocies contribute.
No tinkering by the Fed will solve inflation while the Congress continues to spend money like the proverbial drunken sailor, and to outright give it away.
Biden has been a boob his entire life. Now he’s a boob with dementia.
Hmmmm. I usually LIKE boobs… 🤔
Anyway, Joe Biden makes Joe Biden look like a boob. 😉🙄
I’ve seen some pretty nice ones on visits to DC.
They usually come in matched pairs.
Don't you?
Well, it's not hard to do.
Nonsense. One serves a useful purpose, and the other is president.
Fed chief Powell makes Biden look like a boob
Biden doesn’t need help showing he’s a boob he’s his own expert.
“Fed chief Powell makes Biden look like a boob”
Actuallly, Biden makes Bideb look like a boob.
Powell doesn’t want to look as stupid as Janet Yellen 🤪
Well, c’mon, that is like shooting fish inna barrel. He has been a dim-witted jerk for his entire career.
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