"Buckle up, America: The Fed plans to sharply boost unemployment"...Joe Biden may regret keeping Jerome Powell on & not listening to Elizabeth Warren

[basquebromance]

The Fed forecasts the unemployment rate to rise to 4.4% next year, from 3.7% today — a number that implies an additional 1.2 million people losing their jobs.

Buckle up, America: The Fed plans to sharply boost unemployment

Fed Chair Jerome Powell says curbing inflation will cause pain. Critics say putting millions out of work is unnecessary.

www.cbsnews.com

 

[Mac1958]

The Fed waited about a year too long to address inflation, and now it has no choice. It has to put a boot on the throat of the economy and hope it doesn't wreck it.

50/50.

 

[pknopp]

We can address inflation or allow it to run out of control like in other countries. The problem is not that the Fed is addressing inflation now. The problem is all their actions that have caused the inflation.

 

[pknopp]

The Fed waited about a year too long to address inflation, and now it has no choice. It has to put a boot on the throat of the economy and hope it doesn't wreck it.

50/50.

About 10 years too late.

 

[Mac1958]

About 10 years too late.

All the way through QE, people were screaming it was inflationary.

I'll tell ya, though, if supply chains hadn't have crashed, we still may have gotten away with it. Maybe. There was still some slack in the system.

 

[ColonelAngus]

They are going to try to reduce demand by killing job.

Congrats Cult…your leaders really fucked us hard.

 

[pknopp]

They are going to try to reduce demand by killing job.

Congrats Cult…your leaders really fucked us hard.

Should have went with negative interest rates, eh?

 

[ColonelAngus]

Its literally what Powell said. They want to lower demand by softening the labor market.

THIS MEANS PEOPLE ARE GOING TO LOSE THEIR JOBS.

Wake up idiots.

 

[Darkwind]

The Fed waited about a year too long to address inflation, and now it has no choice. It has to put a boot on the throat of the economy and hope it doesn't wreck it.

50/50.

They unsuccessfully tried that in 2000. They popped the clutch on interest rates to tame inflation and it stalled the economy. Luckily, it only lasted a few years.

To get the inflation numbers they want, the recession is going to skirt falling into a depression and will last out to at least '25.

 

[Darkwind]

We can address inflation or allow it to run out of control like in other countries. The problem is not that the Fed is addressing inflation now. The problem is all their actions that have caused the inflation.

The problem is printing 80 trillion dollars in the last 15 years.

 

[pknopp]

The problem is printing 80 trillion dollars in the last 15 years.

As I said.

 

[Darkwind]

As I said.

Yes, and the fact that the fed, with their rate increases, are trying to cool the economy as well as pull back all that cash.

It's going to get dicey over the next 18 months.

 

[Seymour Flops]

You may well be right.

But Jesus, basque!

How bad does it have to get that you should regret not listening to Elizabeth Warren?

 

[pknopp]

Yes, and the fact that the fed, with their rate increases, are trying to cool the economy as well as pull back all that cash.

It's going to get dicey over the next 18 months.

Sure but this was predicted for years. The Fed knew they were doing this.

 

[Flash]

Joe Potatohead is so damn stupid it is pathetic.

His massive government spending and environmental wacko bullshit that ran up the cost of energy have created massive inflation. The penalty for curing runaway inflation is high interest rate and recession.

Obama warned everybody that Joe Potatohead would fuck up everything and he did. Worst President this country ever had. That is saying a lot when the runners up were Obama and Carter.

Anybody that voted for him is an idiot.