Posted on 07/14/2021 12:13:56 PM PDT by ChicagoConservative27
Federal Reserve Chair Jerome Powell struck a stance of cool defiance when it comes to concerns over inflation surging.
Powell said Wednesday that he expects inflation, which has been rising by much more than expected for the past four months, “will likely remain elevated in coming months” before “moderating.”
This is an indication that the Fed is not ready to change course from its declared plan to keep rates low for an extended period of time even though growth and inflation are running hotter than expected.
In testimony before the House Financial Services Committee, Powell faced many questions, particularly Republicans, about whether the Fed was being cavalier in ignoring higher than expected inflation. Democrats too challenged Powell to better explain why he is not worried about escalating prices, especially in the housing market, where escalating prices have put homes out of reach for lower income Americans in many areas.
(Excerpt) Read more at breitbart.com ...
Faith? Really? Are we about to Whip Inflation Now?
What’s he defying? Reality?
The Fed is one of those “false idols”...
Just running out the clock until its too late, he is covered and taken care of, for everyone that isn’t?, oh well too bad I suppose.
Just another bureaucratic overlord.
Despite the hopes of the inflationistas we’ll be worrying about deflation within 36 months. But there’s still plenty of time to invest with inflation in mind during the interval.
Few things would serve the country better than a 3% Prime Rate now.
It will help us avoid a 15% rate later.
But these bastards are too dumb and too afraid to see it.
They WANT INFLATION. THEY NEED INFLATION. BOTH PARTIES.
Why?
To pay off the debt with inflated dollars.
They do it every time....................
Agree. More likely we will tip over into deflation. Wait til the $600 per week unemployment runs out. A gazillion people will be out looking for a job at the same time. Wages will drop. Prices will follow.
What do you see on the horizon that makes you think that? Serious inquiry.
Betting on $4/gas by November.
Well, that proves to me that Powell doesn’t know his rear end from a cork pistol in regard to finances. The root CAUSE of inflation is printing paper money with nothing to back it up, which weakens the value and buying power of the whole money supply. So he’s Chairman of the Fed. Res? Isn’t that a shining example of The Peter Principle?!
-PJ
Where’s the gif of Leslie Nielsen?
They are absolutely looting the treasury. Tell me this, who will ever go back to work if they are getting paid ~$900 week from the government? Add in an infrastructure plan, assuming it passes, and who will ever work the private sector again, if they can poach enough workers to do the public works jobs.
We are toast.
I'll make another prediction based on previous Communist Revolutions . The economy is going to crash because crushing the middle class is essential to the success of the Revolution.
Liberalism and its subculture "climate change" is a religion. Its true believers will not acknowledge reality if it conflicts with their religion
IMO the economy is going to crash one way or the other. Deepstate has to crash it to bring in the reset. Trump has to crash it to bring in the QFS. Its just a matter of which system we are going to get. My money is on the QFS so Mr. GG2 and I are almost totally into PM and real estate. We also think we will be facing deflation. I just liquidated our only stock fund. Buying land with it.
Yep, about 90% out of stocks now. This simply cannot last. Just waiting for the blackswan event now.
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