Temporary bottlenecks...
Posted on 10/06/2021 8:28:19 AM PDT by MNJohnnie
Chicago Federal Reserve Bank President Charles Evans on Tuesday said he continues to believe supply bottlenecks are driving most of the recent increase in inflation, and though it is higher and may last longer than initially thought, it will subside.
Inflation expected to be 3.5 percent or 4 percent this year “cuts into income, wages and so that’s a problem and we are definitely monitoring that, but it’s not really a monetary policy issue, it’s a infrastructure, supply issue at the moment,” Evans said in an interview with CNBC. He also repeated his view, in line with most other Fed policymakers, that the U.S. central bank is close to the time it will begin reducing its monthly asset purchases, and would not be surprised if the taper is complete by mid-2022 or the fall.
Yup. Eva thang goin be aw right. Gas plummeting from $3.89 to $4.17........... Hey, wait a minute....
Temporary bottlenecks...
Even their god of Big Government Economists, John Maynard Keynes, would be telling them
“It’s the spending stupid”
+1
The metric he is blaming is certainly a part of the problem, but the problem is multi-faceted and some of the reasons are getting worse, not better.
Yes bringing down the US economy without lifting a finger.
Well, this excuse will last a couple of days. I wonder what lies they will come up with next.
Gas prices that were a dollar / gallon lower under Trump. And going down, since supply was overwhelming.
Now we’re back to 1979, pleading with the Saudis to spool up production, while The Fraud inserts a nutcase Earth First! idiot into the BLM to shut down all domestic production.
“it’s not really a monetary policy issue, it’s a infrastructure, supply issue at the moment,Evans said”...
Right now, it is both a temporary supply issue and, more importantly, a permanent structural fiscal policy issue brought on by 5 trillion of unpaid Dem spending that will propel inflation into the future.
Just think, a year ago we were energy independent. Oh, and ‘way to go joe’ and camel toe were eschewing taking a Trump vaxx. Weird huh?
Energy prices rises caused by supply-chain breakdown WOULD ease off if the bottlenecks ease. Not going to happen this time. The fuel scarcity is Green policy, and they'll keep on garrotting the economy as long as they have control. Their Final Objective is nothing less than the destruction of Western economies, with concomitant die-off of the population.
See: Club of Rome.
That said, we DO have real inflation as long as all the world's central banks (not just our Fed) keep printing money to prop up overleveraged banks and hedge funds.
Double Whammy.
We are so screwed.
Wishes and fairy dust. Bottlenecks are just one of a myriad of problems. Tell me why the National Guard is not unloading at ports if the problem is not enough people to unload the ships.
Because the National Guard is busy supplying top-notch Medical Care after hospitals fire qualified personnel for not getting the Jab.
Dear Lord we are living in Looking-Glass land.
4% for the year? These people are so full of crap. We passed 4% way back in the first quarter. Figured honestly inflation is going to be 10 to 15% this year.
That’s pretty funny, using the terms figured honestly and the FED together.
5 trillion dollars in fake money and not even a mentione by the FED.
“Wishes and fairy dust. Bottlenecks are just one of a myriad of problems. Tell me why the National Guard is not unloading at ports if the problem is not enough people to unload the ships.”
Or driving trucks. But people here were blasting me for saying that the containers on all those ships waiting outside ports might just be empty...
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