Posted on 06/22/2022 12:35:40 PM PDT by conservative98
Federal Reserve Chairman Jerome Powell said Wednesday that Russia’s invasion of Ukraine is not the primary driver of inflation.
In a Senate Banking Committee hearing Wednesday morning, Sen Bill Hagerty (R-TN) pointed out that inflation rose from 1.4 percent in January of 2021 to seven percent by the end of the year, months before Russia invaded Ukraine. It has since risen another 1.6 percentage points.
“Given how inflation has escalated over the past 18 months, would you say the war in Ukraine is the primary driver of inflation?” Hagerty asked.
“No,” Powell responded. “Inflation was high. Certainly, was high before the war in Ukraine broke out.”
The Fed chair’s statement puts him at odds with resident Joe Biden, who has repeatedly sought to blame the war for high prices.
(Excerpt) Read more at breitbart.com ...
the title of this story is hilarious
I wonder what Hagerty needed the sound bite for.
Mr Chairman,
When will you order the Fed to start printing $500 and $1000 Dollar Bills so people can actually fill their Gas Tanks and maybe get a soda afterwards???
When the Fed Chairman shoots you down …… your best options have left the building. Pedojoe would be wise to eat his diaper
Powell is still a dishonest moron. One comment does not correct his history.
Psychojewea was present and blamed Powell for the economy.
Guess someone needs to say it..... Jerome Powell did not kill himself!
don’t we all...
this Powell person may be having a certain senile old communist yelling at him soon.
Would have loved to hear his excuse for pooping his pants.
Trump, Putin, DeSantis... ?
LOL
“..Pedojoe would be wise to eat his diaper...”
Yep. ALL of it, but only after he fills it to the brim.
A real ESAD moment would be nice to behold. /s
Here are the inflation numbers since potato head was installed in the White House.
2021
Jan 1.4% (Potato Head takes office)
Feb 1.7
Mar 2.6
Apr 4.2
May 5.0
Jun 5.4
Jul 5.4
Aug 5.3
Sep 5.4
Oct 6.2
Nov 6.8
Dec 7.0
Ave 4.7
2022
Jan 7.5
Feb 7.9 (Russia Ukraine war begins)
Mar 8.5
Apr 8.3
May 8.6
Ave 8.2
By the time the bankers get done hiking interest rates, Biden will be “barking at the moon.”
The economy is going to get wild. Stay tuned.
Eh so what. Nothing these guys say makes much difference. Bottom line is people are pissed that food and gas is so expensive. People vote with their wallet and unless there is major cheating, Dems will be tossed out in Nov in a big way.
Good post
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.