Jerome Powell, the Fed, and Joe Biden are in a pickle. They can either try to fight record high inflation by raising interest rates, which will destroy the economy for good, or leave rates alone resulting in even higher inflation. It looks like either way, Powell and Biden (Obama) have no answers.
Yesterday, we saw again how political the Fed is and how much they side with the corrupt Democrats.
Zerohedge reports this morning on Jerome Powell’s remarks versus reality:
During his post-meeting press conference, Powell insisted the economy was not in a recession.
“There 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.”