Posted on 12/07/2021 1:35:26 PM PST by ChicagoConservative27
For months, Biden administration officials have downplayed the current bout of inflation as “transitory,” suggesting it is only a temporary problem that will abate sooner rather than later.
On Nov. 30, while appearing before Congress, Federal Reserve Chairman Jerome Powell delivered quite a different message, saying it is time to “retire” the word “transitory” when referring to the 6.2 percent rate of inflation – a 30-year high – that is ravaging the U.S. economy.
According to Powell, “We tend to use [the word transitory] to mean that it won’t leave a permanent mark in the form of higher inflation. I think it’s probably a good time to retire that word and try to explain more clearly what we mean.”
(Excerpt) Read more at thehill.com ...
that would be moronic. Yes let’s raise interest rates to 15% or more when the US FedGov is $30T in debt.
The deficit and the Dollar would blow up immediately. they are locked in and cannot raise rates. Volcker option is off the table.
How could they, ship more factories & American jobs off to China? Set up the Donald as the straw man to siphon off the underclass’s dissatisfaction with being ripped off?
Without Reagan-like tax and regulatory relief, Volker-like tight money would just cause a recession.
The only way at this point to contain .gov spending is via higher interest rates. The ‘free’ money these past decades has destroyed the future. Gen x, z, etc are now the largest bag holders in the history of the world.
Bankrupt the energy and real estate industries and put a lot of private real estate in the hands of the Govt Resolution Trust Corporation again?
Brandon doesn't even know what day it is.
That’s exactly what a friend of mine who has studied economics said. We are not in as good a financial situation as we were in 1981 (if you can remember those times, they were pretty bleak economically).
I will never forgive Biden for making my eyes play tricks on me whenever I see his name.
I saw the opening sentence of this article as
“For months, Biden administration officials have downplayed the current bout of inflation as “suppository,”
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.