Jerome Powell May Soon Bomb The Economy ~ Sept. 3, 2022

_________________________________________________________________________________________________-

Federal Reserve boss Jerome Powell sent stocks tumbling with a speech vowing an unrelenting fight against inflation by raising interest rates. He admitted that means slowing the economy and inflicting pain.

Recommended video: Fed Chair Powell doesn’t understand what the causes of inflation are and were, says professor

This episode of What’s Ahead lays out why Powell’s prescription is profoundly wrong. Austerity is not the cure for inflation; stabilizing the value of the dollar is.

Also discussed is how Powell has fundamentally misread the lessons of the seemingly intractable inflation of the 1970s.

Sadly, Powell’s views reflect mainstream economic thinking. We’re in for totally unnecessary turbulence.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.