Guess the Fed wants a recession. More pain for the middle class :(
#federalreseve

Has anyone read a cogent argument for why the #inflation target is 2% instead of 3% or 3.5%? Or even 2.5% #federalreseve

Amused at image of Powell, Lagarde Macklem, Thedeen, Bailey and the rest barking at rate meetings. “My dog Woofie might have drawn the same conclusion whenever he barked at planes flying over our house. He might have believed that he had scared them off and that not barking would have increased the risk of the plane falling on him.” Roosevelt Institute - How Not to Fight Inflation

https://rooseveltinstitute.org/2023/01/30/how-not-to-fight-inflation/ #centralbanks #ecb #federalreseve 🐕️

@pkrugman so that old saw, "too much money chasing too few goods", focused on the money, instead of the #shortage of goods due to the #pandemic #disruptions. Now that the #supplychain has caught up and goods are coming back we need to let #moneysupply and #lending keep up. Unless we want a #housing #depression while we still have a housing shortage! #FederalReseve #InterestRates #Recession

@geekaren Warren: “Rate hikes won’t make Vladimir Putin turn his tanks around and leave Ukraine. Rate hikes won’t break up monopolies. Rate hikes won’t straighten out the supply chain… Rate increases make it more likely that companies will fire people and slash hours to shrink wage costs. Rate increases also make it more expensive for families to borrow money for a house,”

#jeromepowell #fed #federalreseve #elizabethwarren #ratehike #interestrate #economy #useconomy