Fed More Concerned About Inflation Than Recession

[applegrove]

Fed More Concerned About Inflation Than Recession

June 29, 2022 at 5:47 pm EDT By Taegan Goddard 57 Comments

https://politicalwire.com/2022/06/29/fed-more-concerned-about-inflation-than-recession/

"SNIP......

Fed Chair Jerome Powell said he’s “more concerned about the risk of failing to stamp out high inflation than he was about the possibility of raising interest rates too high and pushing the economy into a recession,” the Wall Street Journal reports.

Said Powell: “Is there a risk we would go too far? Certainly there’s a risk. The bigger mistake to make — let’s put it that way — would be to fail to restore price stability.”

......SNIP"

[TheRealNorth]

1. Thats because inflation hurts people that lent money more

Than the people who have already borrowed money.

[applegrove]

2. Yes. But if it goes on then the borrowers get hurt to as their variable mortgages

go up.

[rurallib]

3. sure wish Biden had picked somebody else for the Fed

There must be a Democrat somewhere in this country that understands economics.

Of course Powell doesn't care if there is a recession. He's a fucking Republican and suppressing wages and jobs is their answer to everything.

[MichMan]

4. President Biden could have chose someone else, but didn't

He apparently was quite satisfied with Powell.