A lot of news today on both monetary and fiscal policy from the Biden administration and frankly, none of it is particularly good.
Back to the money story, a couple of key points. First, Jay Powell is right to say the Fed is going to be raising interest rates much more than previously thought. The Fed's monumental error in 2021 of inflation is coming back to haunt them two years later as their quest to disinflate back to their 2% target is a lot harder than they and, quite frankly, Wall Street thought.
What the central bank should want to do is bring down inflation, not kill growth or the whole economy, or middle-class families, or blue-collar jobs. If he'd used the price justification, he'd be on target.
'70s-80's inflation followed oil prices. 1974-80 cost of oil/barrel up 788%; 1981-88 down 60% & inflation fell. Oil now up 175% from pre-pandemic. M-East turmoil then; now it's Dems causing supply issues. W/o energy policy change: 3-4% inflation. Fed can't fix supply. Pause rates
They've already done it.
Bless your heart. Have you ever been right about anything?
larry_kudlow didnt you say inflation was transitory for months? To slash inflation FT work requirements for benefits Savings to payroll tax cuts employees & employers of ¢50 hour each = $1000 each/FT worker FUNDING LAZY LOSERS & illegals polls like crap Esp to FT on welfare
Anyone notice that Biden is pushing relentlessly UNIONIZING ? The kickback must be abnormal hugh. That's the only thing that makes sense of stomping out small businesses and GIG workers.
No thank you
Free markets were slaughtered in 2008 imo.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: nypost - 🏆 91. / 67 Read more »