Fed, Joe & Stagnation’s New Normal

Is he for real? Fed chair hints at a December mini-pause or easing of in interest rate hikes, then, maybe resuming its draconian fight against inflation next yr? More gutless gov’t guesswork that’ll again lead to Obama Stagflation?

It can’t get any clearer than mud … although history may clearly indicate how Fed Reserve Chair Jerome Powell’s latest comments on the upcoming December meeting to set the government’s own interest lending rate are going to turn out … BADLY. Just read the various MSM stories. For instance, how Wall Street is buying in to the idea that “brisk wage growth” and some other indicators of economic health despite record level inflation might just lead Jerome & his Fed cohorts to consider raising their policy rate ONLY 5% in 2023 while approving a 0.5% (rather than 0.75% as they have since summer) in the supposed fight to tame runaway inflation. THEN, NEXT YEAR, maybe they’ll think again and renew raising the hell out of you know what. As if they are engineers driving an Amtrak going off the rails …

Who was it that said “a sucker is born every minute just because they want to believe what they want to believe”? Could that be one way of describing Wall Street & the MSM’s economic pundits’ gullible tunnel vision now? Recall how President Obama kept telling us of the need to be happy with the “new normal” of low growth after the 2008 debacle aka a near decade of “stagnation”? Did Mr. Powell just lay the groundwork for our future “Bidenomics” aka stagflation?

Davd Soul