Posted on 07/11/2024 1:55:43 PM PDT by ChicagoConservative27
The U.S. government’s immigration policy raises inflation pressures in some parts of the economy, but also reduces it in other parts of the economy, Federal Reserve chair Jerome Powell told Sen. JD. Vance (R-OH).
“Overall, in terms of aggregate inflation, I wouldn’t say it’s a driver [of inflation] one way or the other,” Powell told Vance on July 9.
Powell’s admission discredits media-magnified claims by many business interests — including Goldman Sachs — that more migration would help reduce the inflation that has crippled President Joe Biden’s administration. That unfounded claim has been touted by many establishment media outlets, such as the New York Times.
Powell, however, did not discuss how migration also reduces the workplace investment that raises American employees’ productivity and wealth.
(Excerpt) Read more at breitbart.com ...
Tell that to people buying houses.
I guess wage suppression isn’t the same as inflation.
But it lowers the standard of living for American’s.
Liar. Just like Yellen said Inflation was “Transitory”
I thought a trump appointee would be more forth coming. Disappointed.
Inflation is transitory. I wouldn’t call it a recession. The vaccine is harmless and effective. The election was fair and open. Everything I say is a lie. Right now I am lying.
SAME HERE
How about 50 million???
He’s basically a criminal lying to us saying more people don’t drive prices up.
Go to www.freerepublic.com/focus/f-news/4247038/posts
As of 9-28-2022, the Federal RESERVE slipped into the LOSS column. NEVER BEFORE IN HISTORY
As of 6-19-2024, that LOSS IS $176 BILLION.
IN 21 months, the FED RESERVE HAS gone into the hole $176 BILLION.
SAY ALL THAT SLOWLY TO YOURSELF......
MAYBE TO AN ARCHAEOLOGIST
"Federal Reserve Chair Jerome Powell: Migration Is ‘Neutral’ for Inflation"
FR: Never Accept the Premise of Your Opponent’s Argument
The following alleged unconstitutional federal support for undocumented Democratic voters is very likely based on state revenues (citizens' wallets) that the unconstitutionally big federal government regularly steals from citizens by abuse of its 16th Amendment powers (direct taxes) imo.
Illegals are indeed getting immediate Social Security, contrary to Democrat claims (7.11.24)
"16th Amendment : The Congress shall have power to lay and collect taxes on incomes, from whatever source derived [emphasis added], without apportionment among the several States, and without regard to any census or enumeration."
"Congress is not empowered to tax for those purposes which are within the exclusive province of the States." —Justice John Marshall, Gibbons v. Ogden, 1824.
“If the tax be not proposed for the common defence, or general welfare, but for other objects, wholly extraneous, (as for instance, for propagating Mahometanism among the Turks, or giving aids and subsidies to a foreign nation, to build palaces for its kings, or erect monuments to its heroes,) it would be wholly indefensible upon constitutional principles [emphases added].” — Justice Joseph Story, Commentaries on the Constitution 2 (1833).
The congressional record shows that Rep. John Bingham, a constitutional lawmaker, had clarified the federal government's constitutionally limited powers as follows.
”Simply this, that the care of the property, the liberty, and the life of the citizen, under the solemn sanction of an oath imposed by your Constitution, is in the States and not in the federal government [emphases added]. I have sought to effect no change in that respect in the Constitution of the country.” —John Bingham, Congressional. Globe. 1866, page 1292 (see top half of third column)
“Cherish, therefore, the spirit of our people, and keep alive their attention. If once they become inattentive to the public affairs, you and I, and Congress and Assemblies, judges and governors, shall all become wolves [emphasis added]. It seems to be the law of our general nature.” - Thomas Jefferson (Letter to Edward Carrington January 16, 1787)
Pelosi: "We have to pass the bill so that you can find out what is in it." (non-FR; 6 sec.)
Democrats [and RINOs] Are Terrified Of An Educated And Informed Public (3.12.23)
Corrupt Congress and likewise renegade states have repeatedly proven that they are an enemy of the people imo. This is why Democratic and Republican Trump supporters need to support hopeful Trump 47 with new, Constitution-respecting state and federal lawmakers and executives in November, not only so that he will not be a lame duck president from the first day of his second term, the new Congress also supporting him to quickly finish draining the swamp, including surrendering state powers that feds have been stealing from the states back to the states.
"From the accepted doctrine that the United States is a government of delegated powers, it follows that those not expressly granted, or reasonably to be implied from such as are conferred, are reserved to the states, or to the people. To forestall any suggestion to the contrary, the Tenth Amendment was adopted. The same proposition, otherwise stated, is that powers not granted are prohibited [emphasis added]." —United States v. Butler, 1936.
It is hard to imagine we are so far gone that:
1) A Fed person is this dumb
2) Some people would actually believe this
Printing money handed out to illegals doesn’t help
migration pushes down wages for everyone and also raises the prices of everything by creating more competition for resources like housing, food, etc.
How does increased demand for products, food and housing NOT contribute to inflation ????????
True dat.
When immigrants brought skills and were not provided free housing and food and medical paid for with printed money, it was net beneficial to the economy. When not it’s nothing but inflationary. TFLCGTH.
Yeah, right. All those MILLIONS of new people here, all of whom need housing, are having no impact whatsoever on the cost of housing for Americans.
He’s an ideologue first. Not a patriotic American first. He has a degree in political science and a law degree. He was an investment banker, but that does not make him an expert on issues such as how illegal immigration effects the economy. Further, what may be ‘neutral’ for some people may be devastating for others. Getting cheap undocumented labor may help an unethical contracting business, but hurt lots of American citizens who have been displaced. I guess we should just ‘let them eat cake’.
And the wait times for medical appointments, and quality of service, because of at least 10M new patients coming from areas with inferior or non-existent medical systems.
The Biden gang sees nothing wrong with us paying for all the world's problems, while it makes existing ones worse.
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.