Posted on 10/19/2023 12:16:52 PM PDT by RomanSoldier19
ederal Reserve Chairman Jerome Powell acknowledged recent signs of cooling inflation, but said Thursday that the slowing in price increases was not enough yet to determine a trend and that the central bank would be “resolute” in its commitment to its 2% mandate.
“Inflation is still too high, and a few months of good data are only the beginning of what it will take to build confidence that inflation is moving down sustainably toward our goal,” Powell said in prepared remarks for his speech at the Economic Club of New York. “We cannot yet know how long these lower readings will persist, or where inflation will settle over coming quarters.”
(Excerpt) Read more at msn.com ...
“Cooling Inflation”?
Really?
Really? As I just said on a different subject on another thread:
I don't know what frightens or angers me more, that they outright lie about this stuff, or the possibility they might actually believe their own excrement that issues forth from their putrid pie-holes.
This is a bizarre statement. Typically, economic growth is a recipe for lowing prices via increased supply (and thus inflation). The only case in which it is not is when production costs are the primary reason for inflation. Is the Fed really implying that that is the case?
Even though labor is supposedly scarce, it seems that government largesse is putting lots of money in the hands of people for non-productive activities. These people can still consume, but they contribute little goods and services in proportion to their income.
So the policy on interest rates will be like mine was in High School: Higher for Longer.
Powell is an idiot. The Phillips Curve is a thoroughly-debunked conspiracy theory of Keynesian control freaks.
Economic growth need not be inflationary. Controlling inflation need not come at the expense of supply-side growth. Friedman, Lucas, Sargent, etc., all demonstrated that.
Jerry needs to stop listening to Keynesians and start bashing Biden, who is bringing us major stagflation along with the corrupt and inept Congress (a plague on BOTH the houses).
Everything was goin great until the democrats rigged the election now they try to balm Trump for their F/U’s.
Stupid people doing stupid things never ends.
So basically, she thinks that we need a recession to bring down prices.
If I had to guess, their thinking would go like this:
1) Recession is definitely coming. Millions of people will be screwed.
2) There could be a political price for this. The recession might even be seen as Biden's fault.
3) How can we dodge this bullet?
4) We'll tell people that we have a strategy to tame inflation (people will be thrilled) all we need to do is to ensure a period of lower economic growth. It's all for a good cause. It's all part of the plan.
People will buy it if the media spins it.
You win the thread!
Thanks
What economic growth??? According to my 457, it ain’t so good!
Congress could stop this but they caused it!
Why we have massive inflation and high prices.
In 2019, Congress spent $4.4 trillion, Sen. Ron Johnson (R-WI) said.
In 2023, the federal government is expected to spend $6.3 trillion.
Slow the growth ....just in time for the Holidays.
Except for the Exempt Ones.
The Grinch’s that stole ...... everything....
Kratcheting just before the Christmas Carol
The Scrooges that stole .... Everything....
ha ha
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