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Federal Reserve Chair Jerome Powell: Migration Is ‘Neutral’ for Inflation
Breitbart ^ | 07/11/2024 | NEIL MUNRO

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 ...


TOPICS: Business/Economy; Culture/Society; Front Page News; Government; News/Current Events; Politics/Elections
KEYWORDS: economy; inflation; migration; neutral; nonsense; powell
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Cough cough LIAR
1 posted on 07/11/2024 1:55:43 PM PDT by ChicagoConservative27
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To: ChicagoConservative27

I call BULLSH*T !!


2 posted on 07/11/2024 1:57:47 PM PDT by wardamneagle
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To: ChicagoConservative27

No one told Powell those 10 million illegal immigrants needed housing, food, etc.


3 posted on 07/11/2024 1:57:52 PM PDT by PMAS (Vote with your wallets, there are 80 million of us - No China made, No Amazon)
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To: ChicagoConservative27

That is the dumbest statement ever made coming from the Fed Reserve Chair.


4 posted on 07/11/2024 1:58:07 PM PDT by chopperk (are)
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To: ChicagoConservative27

Wow. He must have studied P.T. Barnum or perhaps Goebbels or at least Joe Isuzu.

Although, technically, he is correct. To wit: Inflation is the act of inflating the money supply — the most obvious consequence of which is rising prices. But immigration drives up prices by increasing demand, esp past the point of any “equilibrium” that a happy economy might have enjoyed.

Together, they are a double-barreled weapon of disenfranchisement of “native peoples.”


5 posted on 07/11/2024 1:59:56 PM PDT by xoxox
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To: ChicagoConservative27

Powell is a know nothing idiot who is FOS. His boy, JoBo is spending billions of taxpayer dollars on these freeloading invaders. Neutral my aye! Jerk.


6 posted on 07/11/2024 2:00:33 PM PDT by FlingWingFlyer (If President Trump loses, ALL AMERICANS LOSE. Vote like your life depends upon it. Because it does.)
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To: ChicagoConservative27

LIES!


7 posted on 07/11/2024 2:02:50 PM PDT by Skwor
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To: ChicagoConservative27

And they made this guy Chair of the Federal Reserve. No wonder the dollar can’t purchase much these days.


8 posted on 07/11/2024 2:02:52 PM PDT by RobertoinAL
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To: ChicagoConservative27

Economically, there are advantages. That’s why it’s gone on ever since the beginning. Quality of life impacts are a different story of course. That’s because we are allowing wide-open migration when we should be allowing only controlled legal immigration.


9 posted on 07/11/2024 2:03:26 PM PDT by SaxxonWoods (Are you ready for Black Lives MAGA? It's coming.)
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To: ChicagoConservative27

Yeah except when you don’t have a job they took,it means you can’t afford anything.

And the schools and health system are overrun, raising everyone’s costs.

And the costs of welfare, crime, drugs, etc.


10 posted on 07/11/2024 2:04:17 PM PDT by Williams (Stop Tolerating The Intolerant)
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To: ChicagoConservative27

He should audition on on open mike night at the local comedy club


11 posted on 07/11/2024 2:05:16 PM PDT by yuleeyahoo (“Pay no attention to the man behind the curtain!” - the deep-state)
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To: PMAS

Com’on man! He was printing all that extra green so us chump taxpayers could giv the POS invaders free housing,food, healthcare, clothing, phones and data plans and oh yeah spending cash, but he says no way flooding the economy with all that extra green cause’s inflation? Where’d he get his degree in economics, the same place as Yellen and donkey face AOC?


12 posted on 07/11/2024 2:05:59 PM PDT by Mastador1
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To: SaxxonWoods

“Quality of life impacts”

You mean like having to live with people who are your mortal enemies and plan on killing you at the first opportunity?


13 posted on 07/11/2024 2:06:17 PM PDT by Regulator (It's fraud, Jim)
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To: ChicagoConservative27

That is his OPINION. Facts not needed.?🙄🙄🙄


14 posted on 07/11/2024 2:07:46 PM PDT by DennisR (Look around - God gives countless clues that He does, indeed, exist .)
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To: ChicagoConservative27

This guy is a flaming moron. It costs the government trillions to feed, house, educate and medicate illegals. It is common knowledge that government spending on these programs feeds inflation.


15 posted on 07/11/2024 2:08:00 PM PDT by Cobra64 (Common sense isn’t common anymore.)
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To: ChicagoConservative27; All

This guy is a flaming moron. It costs the government trillions to feed, house, educate and medicate illegals. It is common knowledge that government spending on these programs feeds inflation.


16 posted on 07/11/2024 2:08:08 PM PDT by Cobra64 (Common sense isn’t common anymore.)
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To: ChicagoConservative27

You can’t shove free money into an economy without causing inflation.

Even I know that.


17 posted on 07/11/2024 2:08:34 PM PDT by moovova ("The NEXT ELECTION is the most important election of our lifetimes!“ LOL...)
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To: ChicagoConservative27

Good then it won’t hurt if we kick them out


18 posted on 07/11/2024 2:11:52 PM PDT by Fai Mao (The US government is run by pedophiles and Perverts for pedophiles and perverts.)
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To: ChicagoConservative27

Easiest solution to inflation caused by immigrants is to cancel all federal benefits for illegals. No housing, healthcare, food stamps, EBT cards, nothing at all. The vast majority will just go home.
The idea that immigration hasn’t caused inflation is ridiculous and only a moron would believe it.
Somewhere between 10 and 18 million new welfare recipients isn’t causing a drain on federal resources and devaluing the currency?
The unprecedented and massive spending by democrats in Congress is exactly what’s causing the middle class squeeze, and democrats don’t care in the slightest.
They have their new voters, at least until Trump comes back.


19 posted on 07/11/2024 2:16:08 PM PDT by Thapsus_epiphany (Socialism is a prison, Communism is a death camp )
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To: ChicagoConservative27

Lying sack of excrement!
Always has been... Always will be...

Let’s see:
- Billions in untaxed wages being wired back to the s_hole home countries...

- Billions being spent to house the migrant invader vermin...

- Billions being spent to provide healthcare for these migrant invader vermin...

- Billions being lost due to the spread of long-since extinguished diseases brought in by these migrant invader vermin...

- Billions in economic impact from the theft, killings, assaults, and rapes that are the “privilege” of these migrant invader vermin...

- Trillions that will be lost as a result of the 15-to-20 million of these migrant invader vermin who will be voting in November for the American Communist Party...


20 posted on 07/11/2024 2:24:14 PM PDT by SuperLuminal ( Where is Samuel Adams when we so desperately need him)
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