Posted on 06/15/2022 12:08:51 PM PDT by JV3MRC
The Bloomberg Opinion Editorial Board had a bit of a red pill moment on how bad the inflation crisis actually is, but didn’t lay any blame at the feet of President Joe Biden and the Federal Reserve.
In an editorial headlined, “The Fed Has a Narrow Path Between Inflation and Recession,” the editorial board sounded alarm bells that “the Fed’s prospects for curbing inflation while avoiding recession are fast receding.” The board conceded that the “some analysts” who hoped the “worst was over” were “mistaken,” as ”prices continue to rise quite broadly, and in an extraordinarily tight labor market they’re dragging wages down with them.” But when it came to holding the “transitory” apologists at the Fed and the Biden White House accountable for their disastrous policies that underscored much of the 40-year-high inflation spike, the editors flinched and blamed other things instead. “To be sure, supply-side shocks — first the pandemic, then the war in Ukraine and subsequent sanctions against Russia — are principal drivers.” [Emphasis added]
In fact, the name “Biden” doesn’t appear once throughout the entire op-ed.
(Excerpt) Read more at newsbusters.org ...
Bloomberg ... just another cog in the Dem Machine.
The interesting thing is that Powell would not say anything bad about the White House or Congress. But what he did say is that the perfect economy was the economy we had just before the Pandemic. In other words, Trumps economy was perfect. He said that near the end of his remarks today.
Telling the truth will cost you your job at Bloomberg are anywhere within the MSM.
I’m no economist, but “an extraordinarily tight labor market they’re dragging wages down with them.”” doesn’t make a lot of sense to me.
Wouldn’t wages go up with a tight labor market? Or is it just illegals working below minimum wage?
There’s no narrow path at all. In 2 weeks we will officially be in a recession, and there is nothing that can be done to stop that, and there is nothing they can do to stop the inflation in 2 weeks either.
The recession is already upon us. GDPNOW is -.02% today and trending downward. There is no such thing as a “Soft Landing” on soft spots on liberals heads.
Correct
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