Federal Reserve Chair Jerome Powell: Migration Is ‘Neutral’ for Inflation

Breitbart ^ | 07/11/2024 | NEIL MUNRO

[Elsie]

It might be true, but printing more money to cover the free giveways associated with it sure as hell ISN'T!!!

[Elsie]

Although, technically, he is correct.

True.

But if we DIDN'T print and give away money, there'd be food riots in the streets and that is a worse optic than 'unexplainable' inflation.

[Elsie]

Easiest solution to inflation caused by immigrants is to cancel all federal benefits for illegals.

That would only expose the problems caused by giving all this stuff away to LEGALS!

[Elsie]

Tell that to people buying houses. ANYTHING!

[Elsie]

IN 21 months, the FED RESERVE HAS gone into the hole $176 BILLION.

In years to come, the average TAXPAYER will have to cough up $176,000,000,000 / 153,600,000 extra:

$1,145.83.

[Elsie]

'Demand' for Taylor Swift concert tickets is at an all-time high.

This contributes NOTHING to inflation.

[Gaffer]

The truth is that THIS leftist government can’t even figure out how to count and track all the illegals in this country, much less figure out their impact on the economy. And, when they DO try to say something about their ‘good’ contributions, it’s always absent the enormous social, medical, educational, welfare benefits that dwarf everything else.

So, some illegal goes out an buys an extra gallon of milk and a dozen eggs and I’m supposed to be placated by that ‘improvement?’ Hell, it’s very likely that the money he used came from SNAP, WICs or other form of EBT. Goddam liars all.

[The Duke]

Having to print vast sums to give to “newcomers” must be horribly inflationary. It’s a wealth transfer such as the US has never seen.

[curious7]

Not to mention all the freebies the government has to print money for in order to give to the illegal aliens. That’s increasing the money supply without a commensurate increase in productivity/output. IOW, inflation.

[Cobra64]

Yup, well,said. 👍

[AndyJackson]

Paid for not with the product of their own labor but by printed money paid out not for discounted costs, but premium rates for top end facilities.

The. There is the factor.. Productive business will shut down or move elsewhere forever impoverishing the places where this is happening.

[AndyJackson]

It’s wealth destruction. You force the shutdown of productive enterprise while giving away the goods and services produced by others to those who will do nothing productive in return.

[xoxox]

good point.

[PMAS]

They gotta eat too!