{"id":4126,"date":"2022-07-28T15:40:36","date_gmt":"2022-07-28T15:40:36","guid":{"rendered":"https:\/\/sasquatchnewsonline.com\/?p=4126"},"modified":"2022-07-28T15:40:36","modified_gmt":"2022-07-28T15:40:36","slug":"bidens-recession-the-political-fed-is-at-the-end-of-its-rope-fighting-inflation-will-take-bidens-economy-into-a-freefall","status":"publish","type":"post","link":"https:\/\/sasquatchnewsonline.com\/?p=4126","title":{"rendered":"BIDEN\u2019S RECESSION: The \u201cPolitical\u201d Fed Is \u201cAt the End of Its Rope\u201d \u2013 Fighting Inflation Will Take Biden\u2019s Economy into a \u201cFreefall\u201d"},"content":{"rendered":"

Jerome Powell, the Fed, and Joe Biden are in a pickle.\u00a0 They can either try to fight record high inflation by raising interest rates which will destroy the economy for good, or leave rates alone which will result in even higher inflation.\u00a0 It looks like either way, Powell and Biden(Obama) have no answers.<\/strong><\/p>\n

Yesterday we saw again how political the Fed is and how much they side with the corrupt Democrats.<\/p>\n

FED Chair Jerome Powell Says US Economy Is \u201cIn Strong Shape\u201d as Economy Drops into Recession<\/a><\/p>\n\n

Zerohedge<\/a> reports this morning on Jerome Powell\u2019s remarks versus reality:<\/p>\n

During his post-meeting press conference, Powell insisted the economy was not in a recession.<\/strong><\/p>\n

\u201cThere are too many areas of the economy that are performing too well. I would point to the very strong labor market. [It is] true that growth is slowing.\u201d<\/em><\/p>\n

As Peter Schiff noted, the Fed chair apparently picked up its copy of\u00a0White House talking points<\/a>\u00a0declaring that two consecutive quarters of negative GDP growth doesn\u2019t mean the economy is in a recession.<\/strong><\/p>\n

\u201cIf you think the\u00a0Fed\u00a0is independent, today\u2019s press conference should put that myth to rest.\u00a0Powell\u00a0clearly got the\u00a0Biden\u00a0administration memo that\u00a0recession\u00a0is not defined by two consecutive quarters of falling\u00a0GDP. Powell even said it\u2019s not his job to declare a recession,\u201d Schiff said.<\/em><\/p>\n

Powell has to downplay the GDP.\u00a0<\/strong>In the first quarter of 2022, GDP came in at -1.6 percent.\u00a0The Atlanta Fed projects<\/a>\u00a0another -1.2% decline in Q2. Using the common definition, that would mean we\u2019re in a recession now, and we have been all year.<\/p>\n

While Powell and others keep saying the economy is strong, the only data they consistently point to is the labor market. But the job market is a lagging indicator and even it looks shaky. As Schiff pointed out during\u00a0an interview with Laura Ingraham<\/a>, we\u2019ve seen three straight weeks of increasing first-time jobless claims, and they\u2019re at the highest level since October last year.<\/p>\n

Meanwhile, if you look at that last job report, even though we added about 400,000 jobs in the establishment survey, the household survey lost about that many jobs. But if you actually look at the jobs, almost all of these new jobs were for people who already had jobs. These were people taking second and third jobs because they\u2019re struggling to pay the bills. And you have a lot of retirees who are being forced back into the workforce because inflation has eviscerated their incomes, and now they have no choice but to go to work. So, these are not jobs that people want. These are jobs that people are forced to take because the economy is so weak.\u201d<\/p>\n

During the Trump years, the Fed was clearly acting as a political bully.\u00a0 They nearly shut down the US economy by themselves in 2018.\u00a0 They started raising rates as soon as President Trump won the 2016 Election after years of keeping rates at zero for Obama.<\/p>\n

TRUMP IS RIGHT \u2013 FED is Political and Will Kill His Economy \u2013 We\u2019ve Been Reporting on this for Past Year!<\/a><\/p>\n\n

Now with Biden\u2019s actions killing the economy, the Fed is trying to keep the economy afloat.\u00a0 But this may not be possible.\u00a0 The US debt is at all-time highs and interest payments on the debt are growing and Biden continues to spend relentlessly.\u00a0 The prognosis is not good.<\/p>\n

Zerohedge<\/a> writes:<\/p>\n

If the Fed was really serious about fighting inflation, it would be rapidly shrinking the money supply.<\/p>\n

So, the question remains: is the Fed at the end of its rope? And when it inevitably reaches that point will it let go, keep tightening to fight inflation, and take the economy into freefall? Or will it surrender to inflation and pivot back to easy money and quantitative easing, letting inflation run wild in order to rescue the economy?<\/strong><\/em><\/p>\n

The post BIDEN\u2019S RECESSION: The \u201cPolitical\u201d Fed Is \u201cAt the End of Its Rope\u201d \u2013 Fighting Inflation Will Take Biden\u2019s Economy into a \u201cFreefall\u201d<\/a> appeared first on The Gateway Pundit<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Jerome Powell, the Fed, and Joe Biden are in a pickle.\u00a0 They can either try to fight record<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-4126","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nBIDEN\u2019S RECESSION: The \u201cPolitical\u201d Fed Is \u201cAt the End of Its Rope\u201d \u2013 Fighting Inflation Will Take Biden\u2019s Economy into a \u201cFreefall\u201d - Sasquatch News Online<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sasquatchnewsonline.com\/?p=4126\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BIDEN\u2019S RECESSION: The \u201cPolitical\u201d Fed Is \u201cAt the End of Its Rope\u201d \u2013 Fighting Inflation Will Take Biden\u2019s Economy into a \u201cFreefall\u201d - 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