Independent thinker
Diamond Member
- Oct 15, 2015
- 31,783
- 27,600
- 2,788
IMF urges Biden administration to cut spending, help Fed bring down inflation
IMF officials are urging the Biden administration to rein in spending both to help shore up the US government's long-term financial position and help the Fed in its efforts to bring down inflation.
Biden's response:
He refuses to even talk about cutting spending. In fact, he proposes a budget with no cuts in spending at all. The IMF clearly asks Biden to cut spending to help the fed fight inflation because continuing spending and raising interest rates has caused bank chaos, leaving the choice between either bank chaos or high inflation. The IMF says we need to cut spending to lower inflation, not raise interest rates to fight it. Will Biden listen to the IMF? Or, will Biden listen to his Progressive bed fellows instead? Will Biden refuse to cut spending and send the US over the debt ceiling cliff, making things even worse, or, will he listen to reason?