Sen. Elizabeth Warren (D-Mass.) is mad at Federal Reserve Chairman Jerome Powell after Powell announced that the Fed was going to raise interest rates another half a percent.
“He’s pushing hard to get more people fired because he thinks that is one way to help bring down inflation,” Warren told HuffPost on Wednesday. “But it’s sure painful for the families who lose their jobs.”
Yes, it is painful if you lose your job. Perhaps Warren’s boss, Joe Biden, should have thought about that before pouring $5 trillion into the economy,
And it’s not only Powell who thinks this is “one way to help bring down inflation.” It’s every economist who isn’t a socialist loon who thinks that way.
Democrats are beginning to get very nervous that the Federal Reserve’s efforts to bring down inflation will be so successful that it will tip the U.S. economy into a recession.
At this point, that’s a foregone conclusion. The only question remaining is how deep the recession will be.
h/t SG