Loretta Mester is the president of the Federal Reserve Bank of Cleveland and appeared on CBS Face the Nation to give her opinion/analysis of the US. economic condition. The disconnect in her viewpoint is alarming and should signal to everyone how the Federal Reserve Board, just like every institution of government, has become a political agency.
In her mind Ms. Mester appears to believe what she is saying, but the disconnect between her view of our status and the reality on Main Street is alarming. In this interview Mester says emphatically that current inflation is being driven by consumer demand that is outpacing supply. Not only is this view of inflation origination wrong, and has been wrong for well over a year, it is dangerous.
Inflation has been driven by spending (dollar devaluation & artificial stimulus), and by massive input changes in the supply side which are predominately being caused by energy policy. Our U.S. inflation is a self-inflicted supply side wound. Inflation was not caused by demand side pressure, other than from the injection of COVID cash into consumer spending – which hid the natural contraction that was going to take place in Q2, Q3 and Q4 2021. WATCH:
Ms. Mester says the Fed will watch the month-to-month inflation change, to determine monetary policy success. Given the nature of the Biden energy policy, that type of success definition is inherently political. It’s akin to saying, as the victim’s bones and muscles get used to the constant blows during the beating, the severity of the pain will be less than the initial shock… therefore, the continued beating is less damaging to the victim. Madness.
Inflation was not caused by demand side pressure
Yep – and because of that, my speculation is that the normal fix (raise interest rates) won’t put much of a dent in the current inflation stagflation shrinkflation
The intentionally high price of oil/gas/gasoline/diesel (green new deal) will continue to propagate thru the goods and transportation prices … a kind of structural inflation unrelated to demand … supply-side inflation, as Sundance says
Making people pay more for mortgages and credit card debt won’t touch it
This is Obama remember, he is an african communist, how do they perform? Joe is the dupe who has no thoughts of his own, a perfect puppet who doesnt even know hes hated. A front man for the arrows, a mindless moron who people excused for decades.
Two many times obama has been referenced with satan, he is a vessel for demons. His life style and upbringing was intentional. We all saw that years ago its just people are programmed to never trust that stuff, those red flags that point us out of destruction. Its a sad place we are in and Godly people will always be protected. Godly people not Gods people. Religion is not what is needed. All the promises reside in relationship.
This woman knows what you say to be true. Janet Yellen knows it as well. Hell the “reader” asking the questions knows it. Ron Klain knows it. Mitch McConnell and Rob Portman know it. They do not give two cares for us or our children. Our misery is collateral damage to their pursuit of power. Unfortunately I do not have very high hopes that “Republicans” can buffer us by winning back Congress in ’22 based on my life experience with them. When in power they are paralyzed by the thought of losing it, when not in power they are drunk on the misery the other side creates which allows them to fundraise like crazy. I think they prefer to be in the minority. If you need proof how about 2016-2018 when they did nothing to solve our most pressing and basic national problems. Hell, after my congressman voted to send 40 Billion to one of the, if not the, most corrupt countries in the world he sent me a mailer the next day asking for a donation.
I’m not usually one to judge on appearance values. But my gawd. Why would I ever want to watch (maybe a female) who has either pulled off, or had someone do it for her, all of its eyebrows? Looks like a wanna be cadaver and I have had it with line up of “energy policY” females speaking with forked tongues. What a clueless bunch. Where the hell and from what cemeteries have the Brandon admin dug up these supposed humans? What a horror show this week re energy has been.
That is one dumb looking woman. Where do they find these kind of people???
It’s hard to fathom these over educated bankers refuse to recognize the obvious. One thing they all have in common is the communist manifesto and the globalist agenda.
This can only happen because they have dumbed down half of the population. Of the half remaining that gets it- 1/2 of those people are us…we see it. The other half is divided: 1/2 of them are ideologues who are down for the cause and the other 1/2 pretend not to know things because once they know things then their lives will be turned upside down.
Oh my gosh I didn’t realize those were her eyebrows. She looks insane. Her denying what’s really going makes her look even worse.