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Author
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Topic: Federal Reserve Rings Every Alarm Bell About Trump’s Economy
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teasel
Knowflake Posts: 30811
From: Here
Registered: Apr 2009
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posted May 08, 2025 01:07 AM
  
Fed Chair Jerome Powell has delivered an alarming warning about Trump’s tariffs causing stagflation. http://newrepublic.com/post/194985/federal-reserve-powell-trump-economy-tariffs-stagflation IP: Logged |
teasel
Knowflake Posts: 30811
From: Here
Registered: Apr 2009
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posted May 08, 2025 01:08 AM
Jerome Powell has once again said what everyone except Trump seems to already know: Lowering inflation while enacting staggering tariffs is virtually impossible.“If the large increases in tariffs that have been announced are sustained, they’re likely to generate a rise in inflation, a slowdown in economic growth, and an increase in unemployment,” the Federal Reserve chair said on Wednesday. “The effects on inflation could be short-lived, reflecting a one-time shift in the price level. It is also possible that the inflationary effects could instead be more persistent. Avoiding that outcome will depend on the size of the tariff effects, on how long it takes for them to pass through fully into prices, and ultimately on keeping longer-term inflation expectations well-anchored.” This is exactly what Trump doesn’t want the American public to hear. The president has repeatedly attacked Powell for his honesty, referring to him as “Mr. Too Late” and “a major loser,” and calling for his termination after Powell correctly noted that wanton tariffs cause inflation. Though Powell didn’t name it, he was clearly referring to “stagflation: slow GDP growth, high inflation, and high unemployment. The Federal Reserve refused to cut interest rates on Wednesday, as Powell described the concerns with Trump’s economic plans. “Donald Trump’s tariffs mean you could suffer higher prices and lose your job AT THE SAME TIME, Senator Elizabeth Warren wrote on X. “Forget dolls, families will be forced to make impossible choices between necessities like food, housing, and health care.” Trump’s trade war loses a lot of validity when people like Powell call it what it is: a tax on top of an already high cost of living for everyday people. IP: Logged |
Randall
Webmaster Posts: 203694
From: I hold a Juris Doctorate (J.D.) and a Legum Magister (LL.M.)!
Registered: Apr 2009
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posted May 08, 2025 02:10 AM
I'm not saying he's an idiot, but he's wrong. I would call this "good cause" to fire this clown, but President Trump says he will gone in 2026. Let's not forget the sky-high inflation under Biden. Crickets! But I digress--tariffs on certain products is not inflation; nor is it a tax. People can choose to buy different products. A temporary increase in prices in order to reset global trade is an acceptable cost for a transition period that will be exchanged for a bright and secure future for following generations. Settle down. The sky is not falling. There will be no stagflation. That is rare. Everything is going to be all right.IP: Logged |
Randall
Webmaster Posts: 203694
From: I hold a Juris Doctorate (J.D.) and a Legum Magister (LL.M.)!
Registered: Apr 2009
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posted May 08, 2025 02:15 AM
He doesn't even know what will happen. He is just guessing:“If the large increases in tariffs that have been announced are sustained, they’re likely to generate a rise in inflation, a slowdown in economic growth, and an increase in unemployment,” the Federal Reserve chair said on Wednesday. “The effects on inflation could be short-lived, reflecting a one-time shift in the price level. It is also possible that the inflationary effects could instead be more persistent. Avoiding that outcome will depend on the size of the tariff effects, on how long it takes for them to pass through fully into prices, and ultimately on keeping longer-term inflation expectations well-anchored.” And Pocahontas is a complete imbecile. She has zero credibility. She lied, i.e., committed fraud, about her Native American heritage (lack thereof), stole a true Native American's seat in college, and doesn't know what she's talking about. IP: Logged |
Randall
Webmaster Posts: 203694
From: I hold a Juris Doctorate (J.D.) and a Legum Magister (LL.M.)!
Registered: Apr 2009
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posted May 08, 2025 02:24 AM
"Though Powell didn’t name it, he was clearly referring to “stagflation: slow GDP growth, high inflation, and high unemployment."This describes Biden's economy to a "T." President Trump lowered inflation, has a very high new jobs report, and has unemployment at 4.2 percent. While GDP was -.3 percent, it was because of Biden's government spending where Biden ordered all agencies to flood the market by spending all that Inflation Reduction Act money (and even some Covid money that was never spent). Even so, compare that meager -.3 to Biden who had two negative GDPs in a row of -1.6 percent and .9 percent. IP: Logged | |
Lindaland
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