Posted on 03/23/2021 12:31:27 PM PDT by ChicagoConservative27
Federal Reserve Chairman Jerome Powell told lawmakers Tuesday that the economy is recovering more quickly than expected but he doesn’t expect the $1.9 trillion stimulus package will lead to too much inflation.
“We might see some upward pressures on prices. Our best view is that the effect on inflation will be neither particularly large nor persistent,” Powell said.
(Excerpt) Read more at breitbart.com ...
With bank interest rates close to zero, you don't need Jimmy Carter rates of inflation to devalue one's savings.
“I see at the grocery store already”
Ditto.
drainage pipe 2020 $11 each
drainage pipe 2021 $15 each
The US government is run by idiots.
gas December 2020 ~ $2/gallon
gas March 2021 ~$2.80/gallon
I guess that isn’t enough for fossil fuel haters living in fossil fuel warmed mansions.
Look at the gas pump..
The Chinese government should insist on Chinese supervision of US government finances or close the dollar window of the Bank of China.
There is an old saying: When the Fed is not worried about inflation, the market should be worried.
“Those of us who are concerned about inflation increasing faster than the Federal Reserve anticipates are focusing on the rapid increase in the M2 measure of the money supply. This measure has soared since COVID-19 hit the US, up about 25% from a year ago, the fastest growth on record… The big risk for the next couple of years is an upward surge in inflation that’s larger than anything we’ve experienced in the past couple of decades… Commodity prices are likely to continue rising and overall inflation will as well in in 2022 and beyond.“
-Brian Wesbury, First Trust Chief Economist
He is a worthless person and a big liar. Inflation is here big time and it will become worse.
There’s always the Fed printing press.
It’s already here!
We’re following the red brick road to Venezuela.
I think Mr. Powell means: "Will produce so little inflation that I - with my millions in Switzerland - will hardly notice it."
Regards,
The Bidet WH theft will crush the velocity of money.
Everyone is terrified the new policies will destroy jobs and productivity—so they will cut spending to the bone.
There will be a liquidity trap—those are amazing to watch...
“I see at the grocery store already.”
Few people have any understanding of inflation.
I'm a landlord in Florida and my properties have gone way up - all asset classes have, along with energy, food, metals consumer goods.
I understand what you're saying and perhaps it is happening in some states. But that would be artificial/regioinal pressure.
For the most part, real estate and everything is going up. Try to get tires lately?
How exactly does the Feb expect to soak back up the 420% increase in the money supply? Maybe I’m too simple to understand but I always though the law of supply and demand dictated that the greater the available supply the less something is worth in trade.
While there are 4 times as many dollars floating around, the goods and services available to buy with those dollars certainly haven’t increased. The only reason I see for why we aren’t seeing massive inflation right now is that most of the cash is still in the top financial strata while the bulk of consumers are scared to spend anymore than they have to. I want to know how we escape a scenario where those dollars trickle down and ignite massive inflation in various sectors of the economy? (Has anyone looked at the land real estate and collector car markets lately?)
This definitely won’t end well.
The challenge is figuring out how best to maneuver thru it.
“Powell Says Stimulus Package Unlikely to Create Too Much Inflation”
And two million illegal amigos being granted “asylum” in the US unlikely yo create too much debt.
Sounds just as stupid doesn’t it?
My renter does not pay because they don’t have to. I can’t do anything about it even though they have a job. Everything I buy now comes out of my savings. So excuse me, but I could give a *** about deflation. Those savings represent a certain amount of work. But now they buy a fraction of what they could at the time they were saved. Yet if not for those savings then I would be living under a bridge(May be soon anyways). So don’t say I should have spent it instead of saving it. Planned Inflation is nothing but theft.
And I just had to pay to take 500 pounds of their garbage to the dump. They just throw it out on the lawn. I can’t even do anything about that. If the health department saw it then they would come after me. And the dump fees are way more than they used to be. We will never see deflation in this country unless it has already collapsed. So I don’t want to hear about deflation. It is a talking point used to justify theft.
Cracker Jacks.
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