NJ Gov. Murphy: Fed Has to Stay ‘Aggressive’ — We Have Future Spending That Will Hit Economy

Breitbart ^ | 11/12/2022 | Ian hatchett

[ChicagoConservative27]

On Friday’s broadcast of CNBC’s “Squawk Box,” New Jersey Gov. Phil Murphy (D) called for the Federal Reserve to remain aggressive on inflation. He also noted that New Jersey, like many other states, has unspent COVID relief money along with other government spending that will hit in the future.

Murphy stated that while he is pleased by the October Consumer Price Index (CPI), “I would think, and this brings me no joy, because this is brutal at the kitchen table, but I think, if anything, the Fed continues to overcorrect. I’m on the side of aggressive behavior, because otherwise, a lot of inflation is sentiment. It’s not just the reality of the math. It’s the sentiment, and when folks wake up and realize, you know what, the Fed and all other weapons that we have are as aggressive as they are, it must be making an impact. Therefore, I believe, when I look out six or 12 months from now, I’m more optimistic than I am today. To feed that positive sentiment in the economy, I think they’ve got to be — they’ve got to take some more steps, that would be one guy’s opinion. And I don’t say that with any glee because that means more pain for all of us.”

[ChicagoConservative27]

I can't stomach these idiots anymore.

[BenLurkin]

The Democrat Party is doing its best to bankrupt the nation and destroy the economy.

[Starboard]

unspent COVID relief money along with other government spending that will hit in the future

***********

Unspent COVID corruption money.

[ConservativeInPA]

He also noted that New Jersey, like many other states, has unspent COVID relief money along with other government spending that will hit in the future

Let’s assume Murphy understands basic economics. He wants the Fed to raise interest rates so inflation is tempered when he spends COVID relief money which is one of the causes of inflation. Sheer genius. It’s like high interest rates are great for businesses and individuals.

[seowulf]

He also noted that New Jersey, like many other states, has unspent COVID relief money along with other government spending that will hit in the future

Here's an idea!

Maybe they could not spend it.

[jdsteel]

A crack addict has a fresh 8 ball looking at him.

Maybe they could not smoke it.

[Kaiser8408a]

Murphyism. REAL wage growth YoY has been negative for 19 straight months. Stay aggressive Smurph?

[Vermont Lt]

The “infrastructure” and “inflation reduction” acts have barely started pumping money into the economy.

The next two years are going to be a mess—intended to make the GOP look bad.

These people are simply horrible.

The Fed will have to keep raising until their rates exceed the PPI. And that’s going to be in the mid 5% range.

[seowulf]

Yeah. Back when I worked for the Navy and buying the occasional piece of capital equipment for my lab, management would get upset when I wouldn’t buy equipment I didn’t need. They were always worried about what that might do for next years budget request.