Economy

bucolic_frolic

(47,365 posts)

8. Biden and Powell met about 18 months ago, I think

Wed Apr 12, 2023, 04:55 PM

Apr 2023

It was publicly announced, and about a month later the Fed began raising interest rates. I think Biden and Powell get along. The Fed and Biden White House have not blamed each other publicly. I take that to mean Biden told Powell to fight inflation no matter what. Republicans are gaining little traction blaming Biden for anything, for some reason. Climate change, green energy, economy ... all Republicans worry about is more guns, abortion, and trans social issues. And GOP is in the minority on the first two. With young progressives they're underwater on everything. You can't worry about this. Biden is among the smartest and most experienced president ever, has the best minds in the world around him. They just don't seem to make self-induced errors. Everything is gamed out beforehand.

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Yahoo Finance-Fed's Williams: The Fed has its 'work cut out' bringing down inflation [View all] sprinkleeninow Apr 2023 OP

If you remember the 70s and understand economics this is not a surprise bucolic_frolic Apr 2023 #1

But then - they'd trigger a deep, Early '80s-style recession peppertree Apr 2023 #2

Biden's inherited timing on the economy will be as bad as Trump inheriting COVID bucolic_frolic Apr 2023 #3

I hear you peppertree Apr 2023 #4

It may not be as bad as the 1970s, this is a gig economy bucolic_frolic Apr 2023 #5

In any case, it's all up to the Fed - and I fear they'll try to 'Carter' Biden peppertree Apr 2023 #6

There was 3.5% inflation for several months. The Fed target is 2% progree Apr 2023 #7

Biden and Powell met about 18 months ago, I think bucolic_frolic Apr 2023 #8

Well said. peppertree Apr 2023 #9