Once again, Fed Chair Powell/“Enemy of the people”, is trying to sabotage the U.S. economy

During Trump’s presidency, when Powell increased interest rates, he was labelled as an “Enemy of the people”, and many believed he wanted to sabotage Trump’s baby economy.

Well, looks Ike Powell now wants to sabotage Biden’s economy.

Breaking News; Fed raises rates by half a percentage point......CNBC Business News, May 4, 2022

43 mins ago

 

Also, what happened to the Fed’s 2% inflation target?

Last annualized inflation rate; 8.5%

 

Fed Chair Powell is basically following the same steps that Volcker and Greenspan did when he had record-high inflation, at that time, aka 1979-1981, As inflation went down, so did the interest rates. This is a Milton Friedman specialty and what he was known for.

If you want the low-interest rates to continue, then you must accept the high inflation that comes with low-interest rates and an excess money demand over the money supply, excess product demand over the supply, and that Covid is causing a majority of the supply chain disruptions.

 

Read an article today that suggested that inflation is surging ahead of the recent official number which is why they want to speed up rate increases.