Fed Chairman Powell Realizes ‘How Little We Understand About Inflation’

[mystery-ak]

Fed Chairman Powell Realizes ‘How Little We Understand About Inflation’

Wendell Husebø 29 Jun 2022

Federal Reserve Chairman Jerome Powell admitted on Wednesday how little he understands soaring inflation.

“I think we now understand better how little we understand about inflation,” Powell stated at the European Central Bank forum on central banking in Sintra, Portugal. “This was unpredicted,” the expert admitted.

Powell is in charge of reducing President Biden’s 40-year-high inflation by a difficult process of increasing interest rates. By law, the Federal Reserve is charged with a dual mandate of pursuing maximum employment and stable prices.

“We believe we can do that. That is our aim,” he said. “It’s gotten harder… the pathways have gotten narrower.”

“The process is highly likely to involve some pain but the worst pain would be from failing to address this high inflation and allowing it to become persistent,” he continued.

more
https://www.breitbart.com/economy/2022/06/29/fed-chairman-powell-realizes-how-little-we-understand-about-inflation/

[Bigun]

Fed Chairman Powell Realizes ‘How Little We Understand About Inflation’

WHY is this buffoon anywhere near control of our monetary policy?

[Kamaji]

It may have been "unpredicted" by the geniuses at the Fed, but pretty much everyone else with half a brain, and no ideological commitment to leftist politics, was predicting this for quite some time.

[catfish1957]

Fed Chairman Powell Realizes ‘How Little We Understand About Inflation’

Countless well documented books have been written about Zimbawe, the Weimar Republic, and even our debacles of the '70's.

I think they choose not to understand it.

[Kamaji]

Countless well documented books have been written about Zimbawe, the Weimar Republic, and even our debacles of the '70's.

I think they choose not to understand it.

[DefiantMassRINO]

I think inflation has something to do with an imbalance between demand and supply.

demand for goods vs supply of goods
demand for services vs supply of services
demand for money vs supply of money

[Fishrrman]

Dear Mr. Jerome,
I'm just a working class dummy.
But if you want to quell inflation, I suggest you:
- raise interest rates -- as high as it takes
- take money OUT OF circulation, by the billions (by the tens and hundreds of billions)
- encourage and promote as much energy production as possible (energy and oil are the lifebloods of a healthy economy)
- remove regulations that discourage business and output.
- cut ridiculous federal spending (we could start by cutting of Ukraine funding)

How's that...?

[Bigun]

Dear Mr. Jerome,
I'm just a working class dummy.
But if you want to quell inflation, I suggest you:
- raise interest rates -- as high as it takes
- take money OUT OF circulation, by the billions (by the tens and hundreds of billions)
- encourage and promote as much energy production as possible (energy and oil are the lifebloods of a healthy economy)
- remove regulations that discourage business and output.
- cut ridiculous federal spending (we could start by cutting of Ukraine funding)

How's that...?

You forgot "Get us back on thr Gold standard"! @Fishrrman