The Federal Reserve has dropped another anvil on the U.S. economy in its ongoing effort to tamp down the raging effects of inflation.
- Federal Reserve Chairman Jerome Powell led Fed policymakers in unanimously opting for a widely anticipated three-quarter-point increase as their meeting concluded last week
- The fourth consecutive such increase brings the central bank's benchmark rate to a range of 3.75% to 4%.
- Mr. Powell warned in a statement that future hikes are likely to reach the Fed's target of 2% inflation, but he hinted that further increases could ease as a result of "the lags with which monetary policy affects economic activity and inflation, and economic and financial developments."
Biden and fellow Democrats have spent wildly on wealth distribution programs under the banner of coronavirus remediation
- Yet they claim neither the Biden $4.8 trillion binge nor his war on fossil fuels that power the economy are the "main drivers" of inflation.
- Instead, it's the global pandemic and Russia's invasion of Ukraine.
https://www.washingtontimes.com/news/2022/nov/5/editorial-heavy-price-of-biden-overspending/
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