No shit, sherlock. Thanks for supporting my arguments. Why does this board blame Biden for inflation because of an increase in the money supply when trump's stimulus package was actually greater, when trump's administration spent more, when the Fed's fund rate was the same? The TRUTH of the matter, as I've said many times now, is that it was trump, not Biden, who set this round of inflation in motion, that it has accelerated because demand caused by an exploding economy is outstripping production that crashed during trump's term, that despite inflation we're better off because people have jobs and money to spend. And also that Biden critics can't unhypocritically use "government spending and monetary growth" as a cudgel when trump was more impactful in those areas. I win so much here I'm getting tired of winning.
We have inflation because the Fed has kept rates far too low for far too long and it only took 1 hiccup to fuck it all up. The Fed then stepped on its own dick when it started to purchase corporate debt. With the pandemic…… this was a self inflicted wound that looked at power over inflation. When you print too much, estimates are it takes about 12-18 months to see real inflation as we see now. it’s only going to get worse because the inflation we see now is from the Feds policy in 2020. Now, we will have the ripple effects of 2021 to blow this baby out. The fed will be forced to raise rates at some point and that will cause another massive asset self off. This is only my opinion.
The point is that Biden has doubled down on what you call the root cause. However, your root cause is wrong. There was no “exploding” economy. The Fed buying corporate debt was fools gold. This problem started a long time ago. Think of it like this. If there is a supply crunch creating increased pricing, when you then print more money, you have further increased pricing due to diluting the money supply. Increasing money supply does not increase output.
and here we go….. https://ca.news.yahoo.com/fed-seen-signaling-march-rate-100000311.html Fed Seen Signaling March Rate Rise and Assets Runoff Soon After Fri, January 21, 2022, 5:00 AM (Bloomberg) -- Federal Reserve officials will signal next week they’ll raise interest rates in March for the first time in more than three years and shrink their balance sheet soon after, economists surveyed by Bloomberg said. A majority of the 45 economists in the poll predicted the U.S. central bank will use its Jan. 25-26 policy meeting to telegraph a 25 basis-point increase in its benchmark rate, though two look for a surprise 50-basis-point hike -- which would be the largest since 2000 -- to combat surging price pressures. The economists, surveyed between Jan. 14-19, were about evenly split between expecting the Fed to hike three or four times in 2022 in response to a stronger U.S. labor market and the highest inflation in almost four decades. The Federal Open Market Committee meets for two days starting Tuesday and will issue a policy statement at 2 p.m. in Washington Wednesday. There will be no quarterly economic and rate forecasts published at this meeting. Chair Jerome Powell will hold a press conference 30 minutes later. “The Federal Reserve has moved from being patient to panicking on inflation in a record period of time,” Diane Swonk, chief economist at Grant Thornton LLP, said in a survey response. “This is the first time that the Fed has chased instead of pre-empted inflation since the 1980s. The risk is that they overshoot and get overzealous on the fight against inflation -- and hit the brakes too hard on monetary policy.” In December, the FOMC doubled its pace of tapering of asset purchases, which is scheduled to bring the bond-buying program to a close in March. Powell told lawmakers that the buying would end that month, and a large majority of the economists said the committee will stick to the schedule, though a few looked for a conclusion in February. Much of next week’s meeting will be devoted to discussion of how and when to normalize policy following almost two years of near-zero interest rates and massive asset purchases in response to the Covid-19 pandemic. The FOMC is likely to make changes to its policy statement that clearly signal a hike at its next meeting in March, according to 43% of economists, while another 43% say officials will suggest an increase may be appropriate soon, leaving the precise timing flexible. While economists have raised their interest rate projections from the December survey, they are largely in line with the FOMC’s revised dot plot forecasts and a bit less steep than investors’ expectations of four hikes this year and of Bloomberg Economics’ prediction of five hikes. What Bloomberg Economics Says... “A March rate hike is almost a done deal in our view, and will be the first of many tightening steps this year as the Federal Reserve fights to control inflation. By mid-year, we expect the FOMC will recognize that they still will need to do more to give the best chance of ultimately achieving their 2% target. As a result, the committee will likely hike five times this year (all 25 basis points).”
@Rex if you are willing to blame trump for hundreds of thousands of virus deaths, even though biden says there no is no federal solution, how many deaths are you willing to blame on biden? note that more have died under biden than trump. how many is biden responsible for, 3? 16? zero?
fair enough, its not a federal issue. but to be clear, its a few hundred thousand dead for trump, and zero for biden? was the cutoff for responsibility the exact moment of inauguration?
along with agreeing with trump that taking the 5th means guilty, you keep repeating trump axioms. maybe you are a white supremacist
