the staff of the Ridgewood blog
Ridgewood NJ, Federal Reserve chairman Jerome Powell has put his tail between in legs and admitted at a Senate hearing the other day that inflation isn’t “transitory.” With inflation now at 6% Powell acknowledged: “I think it’s probably a good time to retire that word and try to explain more clearly what we mean.”
Why in the world is the Fed continuing to purchase tens of billions of dollars of mortgage-backed-securities, which only subsidizes a red hot housing market? Has your team of hot shot economists learned NOTHING from the catastrophic housing bubble the fed helped inflate in 2006-2008 and that crashed the economy?
Why isn’t the Fed taking a strong stance against the insane Biden spending spree that is feeding inflation? The best way for the Fed to bring inflation down is to help kill the $4 trillion Biden debt bill?
The Fed is “accelerating it’s taper” because it knows with more 2 trillion of new appropriations from Congress, it will have to monetize more debt very soon.
Joe Biden Admits It’s Time to Retire the Phrase “Democratic Republic”