re: Biden’s worst-case economic scenario is unfolding

quote:

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People who think the fed chair is in the bag for Biden need to pay attention

This guy could very well kill Biden’s re election hopes

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The problem is, there are no tricks left in the bag. They lowered the rates to near 0, then did quantitative easing and threw more trillions in the money supply, and then threw on top of it covid and build back better trillions, Ukraine spending, loan forgiveness.

By the time the feds acknowledged they had a five alarm fire with inflation and started ramping the rates, it will take years to get the sloshing of money to simmer down.

They attempt to lower rates now and inflation will spike even higher.

Now when things finally simmer down, jobs will be down particularly given the 11 million illegals (though they will be counted as added jobs since they were given SS cards), prices will stabilize but at a level that is almost 30% higher than under Trump. And no one will buy anything, hence stagflation.