re: How high does inflation and the cost of living have to go up before it’s not “political”?

People who framed this as Trump vs Biden just aren’t going to make it through this

Trump actively bullied Jerome Powell to keep rates low to protect the stock market. Trump authorized the stimulus checks and oversaw QE on a grand scale.

Biden is just the latest irresponsible man to wield the power of the presidency and overseeing terrible monetary policy, but the reality is we are in an extremely deep hole dug over the span of decades with no way out for the Fed other than rampant inflation or a stock market crash with higher interest rates/tapering of QE and nothing in between. The powers that be are going to choose inflation because it increases their lot in life and is consistently more politically viable in the short term.