Last week Federal Reserve Chairman Jerome Powell told reporters that the current inflation rate was unpredictable.
Only the elites and the “experts” like Jerome Powell did not see the inflation train coming down the tracks.
Jerome Powell: “I think we now understand better how little we understand about inflation.”
Host: “That’s not very reassuring”
Jerome : “This was unpredicted”
Only the “experts” and the media didn’t see this coming.
Just about everyone else did.
Sound ON pic.twitter.com/6Gv35rXPrW
— Wall Street Silver (@WallStreetSilv) June 29, 2022
Inflation took off immediately after Joe Biden was sworn in and never stopped. That’s what happens when Democrats spend like drunk socialists.
Inflation has risen nearly every month for a year now. How could Powell be so blind?
Earlier today Jerome Powell said the US economy is in “strong shape” during testimony.
Fed Chair Jerome Powell says the US economy is in “strong shape” and the central bank can reduce inflation to 2% while maintaining a solid labor market, even though that task has become more challenging in recent months https://t.co/wMj0eIN6fJ
— Bloomberg (@business) June 29, 2022
Apparently, Jerome Powell missed the news that the US economy is in recession after the second quarter downturn.
Recessions are typically marked by an economy shrinking in back-to-back quarters, measured by gross domestic product — sort of like what we have now.
You’d think Powell would know this?