Posted on 06/22/2022 10:24:43 AM PDT by conservative98
Federal Reserve Chairman Jerome Powell conceded on Wednesday that the Federal Reserve’s battle to bring down inflation could trigger a recession.
“It’s certainly a possibility,” Mr. Powell said Wednesday during the first of two days of congressional hearings. “We are not trying to provoke and do not think we will need to provoke a recession, but we do think it’s absolutely essential” to tame inflation.
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Powell told the Senate Banking Committee that achieving a soft landing would be “very challenging.”
“The events of the last few months around the world have made it more difficult for us to achieve what we want,” Powell said.
(Excerpt) Read more at breitbart.com ...
We are in the trick bag- Jacking interest rates mean increased debt payments especially interest on debt we now have. Can only ratchet up so much without having every dollar vacuumed up by Fedzilla going to pay interest on national debt.
Thus serious inflation is baked in for years which will plac a drag on economy...
I tell ya the last straw will be the return of disco to complete the 70’s car wreck
“It’s certainly a possibility.” - Jerome Powell
Genius. An absolute genius I tell you.
Higher rates? 3/4 of a percent...LOL. It’s barely a drop in a bucket. If they don’t get it up to at least 6% immediately, we will continue to see increasing inflation. And in the face of failure to take action now, they will have to go over 10% to have an effect in the near future. The fed has always been slow to act, followed by overreacting. But this time, they missed the window to even be called slow to act. It’s now complete paralysis and incompetence.
Didn’t we already have negative GDP growth in the first quarter of this year?
Guaranteed. The undelying economy is weak and has never recovered from the asinine Covid business shutdowns and trillion-dollar giveaways, and related supply chain shock.
The Fed already broke the economy with QT and low lending rates for a year too long. What is coming is just Part II of the broken economy. Part I was the artificial rise and Part II is the subsequent, neceassary fall.
It has to happen. There is no stopping it and nothing we can do about it.
Somebody will use it to get richer. Not me.
50/50. A coin flip. Maybe/maybe not. Could be, or not. Yes, or no.
A brillian mind with a prescient crytal ball LMFAO
Yep. Most of this was avoidable. But we are lead by folks even dumber than this guy.
Is it certain or a possibility Mr. Powell? Which is it. My guess is it is certain and I believe we are already in a recession.
Powell told the Senate Banking Committee that achieving a soft landing would be “very challenging.”
Question: has it ever happened in history? An quick and high inflationary period being brought under control by a central bank's management with minimal harm to the economy?
The Fed is caught between doing their job and trying to save Biden.
Hate to say but we need probably 20% interest rates to contain inflation. But that won’t happen because I believe insane inflation is a desired result for the Marxist fifth column that runs the Deep State.
Erasing the wealth of the middle class so socialism can be imposed is the goal.
In short, it’s time to buy reasonable amounts of gold and silver and irrational amounts of prep and ammo.
The economy started contracting around 10 months ago. If one adjusts the supposed GDP it’s with the true inflation rate it’s been in continuous contraction since last summer.
Damned if you do, damned if you dont, eh, PowellIdiot?!
I mean gee, printing trillions is/was fun yeah?!?!
Yellen says...don’t worry about a thing
Interest rate increases coupled with government restricted oil supply resulting in massively increase fuel prices might tip us into recession . . . ya think????????? Duhhhhh!!!!!
Like all that was planned or something.
Notice nobody is mentioning the Fed continuing to print record numbers of dollars.
I personally think we are just past peak inflation. Oil and gas futures are much lower for next year, and I’ve seen other prices that have peaked and are starting to turn down.
Remember Harry Truman’s desire to have a one-armed economist? So they couldn’t say, “on the other hand...”
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