Who could have seen this coming?
In July, we saw the seeds of the Democrats plan begin to take hold as several politicians took aim at Fed Chair Jerome Powell as poll numbers started to slide and the Midterms looked like being a disaster:
“It is important for the Fed not to overreach and trigger a recession unnecessarily, as part of its effort to bring inflation down,” said Representative Hakeem Jeffries of New York, the No. 5-ranked House Democratic leader.
“Inflation is a global problem, and is actually not as bad in America as it is in almost every other developed economy in the world,” he told Bloomberg.
Then, in September, none other than Senator Elizabeth Warren unleashed hell on Mr.Powell, tweeting that:
“Chair Powell just announced another extreme interest rate hike while forecasting higher unemployment. I’ve been warning that Chair Powell’s Fed would throw millions of Americans out of work — and I fear he’s already on the path to doing so.”
Interestingly, we noted at the time that Senate Baking Committee Chair Sherrod Brown, an Ohio Democrat, defended Powell during an interview on Bloomberg Television