Biden to address inflation as economists predict Fed will set aggressive interest rate hike

cnn ^ | 6/14/2022 | By Kate Sullivan and Arlette Saenz, CNN

[RomanSoldier19]

President Joe Biden on Tuesday will seek to reassure the American people that tackling the worst inflation the nation has seen in decades remains his “top priority” when he addresses the AFL-CIO convention in Philadelphia, a White House official tells CNN.

The speech comes a day before the Federal Reserve could raise interest rates as much as three-quarters of a percentage point as it attempts to get inflation under control. The issue has been bedeviling Biden and his White House for months after they downplayed inflation concerns last year.

But without many options to fight price hikes, the President is expected on Tuesday to focus on drawing a contrast between his economic policies and the plan put forward by the leader of the Senate Republicans’ campaign arm, Sen. Rick Scott of Florida. The President has been leaning into criticizing what he describes as an “ultra-MAGA agenda” on the right as part of his messaging heading into November’s midterm elections.

[tnlibertarian]

A recent “Today’s Cryptogram” was this Milton Friedman quote:

“Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.”

Until they acknowledge that creating money out of nothing caused the problem, they will never be able to fix it. Not that they really want to.

[caww]

"If Biden gets elected we'll have record inflation and the stock market will crash like in the Great depression " .....Donald J. Trump

[Repealthe17thAmendment]

He keeps saying it's his top priority, and that it's not his fault. And he hasn't actually done anything to lower gas prices, like reopen the Keystone project or backing off sanctions that are contributing to high energy prices.

It's not even the Russian invasion of Ukraine that is driving up oil prices, it's the sanctions on Russia that is driving up oil prices. Biden controls that, but he won't.

The bottom line is that Biden just doesn't want to be blamed for inflation. He doesn't care that it is here to stay for a while.

[Taxman]

Slow Joe, The Hoe, and their large gang of criminal co-conspirators “top priority” is to keep getting richer and more powerful.

If, along the way, they destroy America, well, that is just the way the cookie crumbles.

Throughout our history, EVERY SINGLE economic downturn has been caused, some would say intentionally, by misguided and corrupt “public servants!”

[caww]

The buck stops at the top, and the man at the top is incapable of doing his job for the Americn people......it’s obvious they have no respect at all for Biden, which isn’t surprising given his record and his mental state.

[Bonemaker]

[Mr. Lucky]

So, the government should just keep expanding the money supply?

[OHPatriot]

SO COULD MY DOG !!!!

[baclava]

Glad I refinanced last year @ 2.5%

Usually I procrastinate, not this time, yay, lol

[Colinsky]

ABC News has a rotating sidebar with a quote from Joe’s AFL-CIO speech:

“My plan for the economy made extraordinary progress.”

[LastDayz]

“My plan for the economy made extraordinary progress.”

Yeah.... in destroyed a more or less perfectly fine economy.

[LastDayz]

destroying

[1Old Pro]

So the entire economy is going down the tubes and we have a “commission” in Washington focused on a former President for political gain instead of focusing on really important stuff for Americans. What an EPIC FAIL.

[Freee-dame]

Joe B: “ “My plan for the economy made extraordinary.”

This is one time that the left’s just saying something is not enough to have their supporters believe it. Everyone goes to the Grocery store.