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.
Traitors, scoundrels and thieves. All of this ilk.
Thieves at their base. Ideologues at the least.
Despicable lying liars….pretending not to know…because, Putin, or something.
They know. Trust me. Look at their playbook. It’s kinda like a football play that is productive. The coach keeps using it until it is stopped. This has never been stopped for several reasons. It’s proven to be beneficial to them, so expect it to continue. Hungary stopped these SOB’s and they’ve been a target since.
If there’s such thing as real govt., Hungary seems to be it: 1. BAN George Soreass, even though it was hatched in Hungary. 2. During the obama defilement, when it was “fashionable” to infiltrate the world with muslim terrorists, Hungary said NO to it. 3. “Hungary stopped these SOB’s.”, which I didn’t know, before. Thanks for the info.
And the Yellen troll was on ABC spouting similar lies. MO mention on the Sunday “News” of the “Insurrection” by media types, assisted by Mr. Schiff, entering the Capitol after hours. They were arrested, but probably were released after being
given coffee and a donut. Also, NO mention of the Biden’Daughter showering together scandal. Imagine if this had been Trump? 24/7 for the next month.
Yes. The Sunday morning presstitutes definitely got their marching orders.
UGLY! Do not leave out ugly. These types are overwhelmingly unattractive to boot.
Inbreeding.
That might actually be the reason. As bad as their looks are, in every other way, THEY’RE WORSE THAN THEY LOOK.
You’re right, although it’s the least of their evils. Janet smellen sure fits, sounds like elmer fudd, and looks worse. I guess that’s what makes her a demoncrap favorite.
The beatings will resume at daybreak.
Those who can, do…those who have no clue about the realities of life end up in positions of power and proceed to grind us all into the dirt. Or…
“It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt.”
Considering their combination of INCOMPETENCE AND TREASON, they SHOULD be easy to stop from RUINING OUR LIVES.
FJB
FLM
bizarre eyebrows and reasoning
Is that a frankestein peg in her L neck area, holding her cranium up? Weird looking android.
Barb I couldn’t decide if it was a necklace of some sort or scabs of wounds or the android pegs.
.
It looks like she has been whacked on that eye recently . . .
Yes. it’s madness, SD, unless you are trying to manage the patient to death.
Just getting ready for her and her co-deconstructionists to slap a DNR order on the economy.
Rather like the hospitals treated covid patients.
Ongoing gaslighting the public is their cover to dismantle our economy. When I see people like Ms. Master I often wonder what the long term side effects of Botox injections do to people. Paralyzing the nerves shuts down brain signals, hmm. What could go wrong with the brain?
Too late!!
Another Nancy Pelosi with all that botox! With the Lefties, botox it is! Just hope that we can last ’til the elections.
This is an example of their misleading percentage of increase.
Yesterday a loaf of bread cost one dollar.
Today there’s a 100 percent increase and it now costs two dollars.
Tomorrow it will cost three dollars but the percentage of increase is only 50 percent from two to three so their plan is working.
oil prices 2x – 5x higher, natural gas 2x – 4x higher due to the Green New Dealers and DC
FJB, making America Soylent Green
she Obviously is pretending not to know things, or got her financial degree from a crackerjacks box.
WE are now paying the price, for the dumbing down of our education/indoctrination system, which has been going on for at least 50+ years,..and for taking GOD out of the equation.
Such changes, and the results of them, will be challenging to reverse.
Even if PDJT wins in 2024, makes National School choice a reality, and doesn’t have the policy reversed after he leaves office, and even if that destroys the Public education cartel,…
We are still left with several generations of brainwashed, indoctrinated idiots, who can’t perform basic meaningful productive work.
Don’t sell them short, just wonder how many wpm two thumbs can produce, while walking, LOL!
I got rid of pretending when I got closer to a teenager!
Claw machine
And the beat goes on as it has since the 18th century. And people refuse to acknowledge it. How many times are these bankers going to f over, and steal wealth before the masses declare “The Emperor has no clothes”.. ??
or maybe until the unwashed masses declare “No More” and pull all these criminals down
By their throats with a dull knife
Finance Unspun Episode 4: Arsonist Fed Pretends To Be Firefighter & Breaks More Things With Hikes – Jun 17, 2022
That’s the correct finger pointing, IMO.
Its NOT energy policy, although that compounded the problem.
“Arsonist Fed” is drawn from Jim Grant’s remarks — “The Fed’s dual mandate is that of arsonist and fire brigade.”
THAT IS THE CAUSE (any central bank asset buying, since they counterfeit to do that.) Inflation is the effect. Where that inflation shows up, they don’t know. Stocks going up, housing going up in price, bitcoin. Those are all RESULTS of currency devaluation (technically, dollar INFLATION). Same with consumer prices (aka inflation but misguided appropriation of the term by MSM to conflate cause and effect.). Energy policy simply tightened supply in one area where prices would have risen ANYWAY. And did, even before the Brandon Admin came into office.
So everyone LOVED the Fed’s counterfeiting when it showed up in their portfolios and home assessments. But its the same CAUSE, now that its biting them via consumer prices.
No, the blame belongs to Powell, and those before him, and to Wilson for signing the Fed into law in 1913.
The ramp in gas prices (and everything shipped) is just a secondary part of the picture.
Also, in the inflationary 70s:
In 1977, Congress amended the Federal Reserve Act, directing the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to “maintain long run growth of the monetary and credit aggregates commensurate with the economy’s long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices and moderate long-term interest rates.”
The Fed started out as a fairly good idea of just being a lender of last resort during bank runs.
Then these two actions set the stage for massive moral hazard encouraged by the bailouts made:
Mexican peso bailout (1995)
https://en.wikipedia.org/wiki/Mexican_peso_crisis#Bailout
Long-Term Capital Management Hedge Fund Crisis
How a 1998 Bailout Led to the 2008 Financial Crisis
January 27, 2022
https://www.thebalance.com/long-term-capital-crisis-3306240
since it modified the provisions of the US Constitution WITHOUT amending it it is NO law
When the destruction of a country is in play, as it is with this illegitimate administration. All the key illegitimate players have to continuously lie, because the truth will expose the treachery and fraud going on.
Either she is IGNORANT, or she is a LIAR, or MOST likely BOTH!
She is multiple things…none good
Ditto
Liar. 100%
In order to address, or hopefully solve a problem, any problem, you must first detirmine accurately what the problem is.
Car won’t start, cause the points are worn out, and need replacing. (Showing my age, here!)
The owner decides the carburetor needs rebuilding, and proceeds to rebuild or replace the carburetor,..puts time, $, energy into doing this, and the car still won’t start.
Similarly (and happens FAR MORE than we would like to admit) a patient comes to a Dr, complaining of symptoms.
The Dr. makes an incorrect, wrong diagnoses and treats the patient for a condition the patient doesn’t have.
Patient doesn’t get better, and may even be harmed or killed by the “wrong treatment”.
Frustrating that the people in control are so willfully blind, even as their actions and decisions effect us all.
At least a moronic mechanic can only effect a relatively small # of cars, and you can always seek out a different mechanic…
A malpracticing Dr. ditto.
These people “in charge” take actions, and make decisions that effect MASSIVE #’s of people, and civilisation as a whole.
And they haven’t got a clue,…Insane Idiots In Charge.
Dutch, I think that they’ve got a clue, They are marching towards their goal.
John 10:10: “The thief does not come except to steal, and to kill, and to destroy. I have come that they may have life, and that they may have it more abundantly.”
I have been in industrial maintenance for over 40 years. This is common. We once had a machine problem that no one could figure out, but I was called in to figure it out. When I offered my solution, almost everyone except my boss said that it was something else and refused to do what I recommended. When they suspected another area, I said the problem you have is not in that area, you need to fix what I recommended. They inspected that other area and found a defect and insisted that my boss write me up for saying that was not the problem. A asked to give it day. If that was fixed and the bigger problem went away, I would sign the write up. The next day, the problem was still there and they simply forgot about the write up.
The bigger problem continued, but they refused to follow my recommendation insisting that I did not know what I was doing. Whatever. After much lost production and spoilage, my boss had the guys replace the parts I recommended. The problem completely disappeared. When the original person that wanted me disciplined was asked if the problem was fixed, he said that it was gone for now, but it would be back because what I suggested could not have been the problem. It never came back.
This situation is no different, except they broke it and will not admit they broke it. Their fix will not work and they want to punish those that offer different and likely workable solutions. If those solutions happen to be implemented and work, they will insist that it was something else that fixed it. In their arrogance they insist that everything they say is must be and the thing they deny can never be. In reality, what they say is isn’t and what they say isn’t is.
Excellent points.
There is a path off of this destructive trajectory… mind you all other avenues exhausted, that way is enshrined in our very DNA. The most basic building blocks of the American founding.
“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.—That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed,—That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.”
Quote Sundance: “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.”
In WEF /Globalism/Green New Deal speak Mester says that current inflation is being driven by consumer demand that is outpacing supply. The Truth is: the WEF cabal have done all that they could to destroy the cattle, chicken, egg, gas, diesel, tampon, baby formula, auto, and a multitude of other industries so that they reduce the USA to a 2nd world country. They have tried and tried to force us to change by altering the Supple Side of the equation. The problem for them is that we, the consumers, have resisted their attempts at getting us on bicycles, electric cars, walking, eating Bill Gates’ plant food, and downsizing our homes. So yes, for the WEF types, DEMAND (our fault) is outpacing SUPPLY and that is bad. We just refuse to get with the NWO substandard of living.
So now they are going to “encourage” us through more financial pain to adjust us to their version of the “new normal”. In their eyes they have not been as stern as they should be. I guess that it is going to get really, really bad for us.
When you do your level best to curtail supply, it ill behooves you to criticize demand.
Let us hope that Americans will respond as I have seen them do in really bad situations such as major disaster hurricanes, wars, droughts and crop failures with a helping hand for their neighbors and community help plans that work much better than government. In Major disasters the government is last and slow to respond with too little too late. People in their communities and individual neighborhoods have already solved problems. The hidden American Can Do spirit always waits for major disasters to surface and show just how strong and united we are. We do not need WEF help!
I’ve been watching these economic idiots posture for the cameras for the last 2 or 3 months – all saying this inflation is driven by consumer demand. I don’t know if they are doing it to “speak down” to people who don’t understand or if it is pretense or if they are idiots. It is NOT demand inflation. That is why the Fed raising interest rates is going to do little to slow inflation. My idea is that it will increase recession as credit debt increases, home and car buying decreases, increases the cost of investment, and does nothing for the input inflation on food, materials, energy, transportation, and production costs.
Every time I go to the store and notice current prices, I say a big thank you to Sundance. It may only be a short term help (until running out gets to be a problem), but it is surprising how much you have saved me already.
Bring back the courageous Andrew Jackson to battle the ravenous beast!
She’s on Deface the Nation. Tells me all I need to know.
As usual, Sundance nailed it.
“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.”
Too much screaming at $ 5.05, so we will lower it to $4.99. Better now. So, go STFU, and start getting used to it, because this is only the beginning, of the end.
Always remember folks….ANYBODY who is in the upper echelons of any federal reserve banking system is a criminal.
Their ultimate boss is Lord Jacob Rothschild.
Always remember that and never believe a word they say.
Everything they do is for their bosses, they do not care about you and me or our children.
They are the enemy.
And their boss’s boss is none other but satan himself.
So Sundance when will the killing blow of retail price controls be put in place.
In my industry I am pricing 20 percent above market because I have seen this coming for a while. In inflation spirals it is best to be ahead of the curve. All the big boys know this you can always discount later if you overshoot. Getting caught before you can get your pants on is not an option
Well, I think we can all agree that this woman (Legal Disclaimer: I am not a biologist), did not rise to a position of influence based on her looks. Given that, she must have demonstrated some level of economic literacy to have become a federal reserve president. Therefore, it is reasonable to conclude that she is a liar, like everyone else the powers that be parade in front of a TV camera as they attempt to appease / confuse the masses.
Connections. Nepotism. She demonstrated loyalty not brains.
This is a good example of how political types lie yet are able to say they didn’t. Strictly speaking, it’s accurate that inflation is occurring because demand is outpacing supply. But she’s trying to imply that demand is growing, that in fact the economy is doing so great because of Biden that supply can’t keep up with demand. That’s not at all true. As Sundance points out, our elites sabotaged the supply chain and energy prices such that supply can’t keep up with normal, much less declining, demand. The inflation we have is self-inflicted by the policies of our ruling class.
Here’s the truth about January 6th, 2021:
(H/T R.Kimball @ American Greatness)
She’s saying she has to break the American consumer.
Great Reset strategy:
Step 1) Strangle production
Step 2) Call demand “excess”
Step 3) Crush demand, aka the American consumer
“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. ”
Yes, but terminology is critically important here, to distinguish cause and effect.
The dollar has been rising SHARPLY in value, but only against other currencies (aside from ruble).
But it has indeed been devalued, thanks the Fed’s huge balance sheet expansion …. covering uncle Sam’s deficit spending (using electronic ‘cash’ that it creates out of thin air) to buy bonds (IOUs) that others wouldn’t touch if the Fed stepped away. Which its now doing, or about to. That was the “inflation” of the currency that led to all this. That is the CAUSE, not the RESULT. Rising prices (what the general public calls inflation but which is cause effect misnomer) is the RESULT of currency inflation measured by the Fed’s balance sheet (or even Japan’s or China’s … its all one stew). Now that the central banks are pulling in their horns, asset markets are selling off because they react the fastest. Negative wealth effects are next. Contagion risks are growing due to insolvencies.
My point is that the level of inflation we’ve seen would have happened even with a benign energy policy. It DID show up in the stock and bond markets. And in housing. And BTC. But the public has been trained to NOT THINK OF THOSE KINDS OF PRICE INCREASES AS INFLATION, but its caused by the same central bank origins as consumer price rises. They never know WHERE the new currency units will go.
Now that the tide has turned, it also turns in asset markets first too, as we are seeing. In things people can’t do without, it will turn there last. And if they need THOSE to retreat from a political POV, then asset markets will be bludgeoned until morale improves.
Absolutely no credibility at all, none, nada, zilch!
So says the “experts”.
destruction is the plan and pain is the order of the day, week, month and for the forseeable future.
Do they truly believe the garbage they spew? Do they believe that WE believe that? Or perhaps they believe as Yuval Noah Hurari believes that we are useless, and will go along with whatever the “elites” dream up for us? Good God! I never would have believed there were that many crazy people in power!
https://odysee.com/@GrandJury:f/Grand-Jury-Day-8-Swinwood-Odyssee:d?r=FtsuncCgbRGjWNqDyNheyR8U5rEyAe21
That thing is not human.
What is going on with those holes in her neck ?
It gives me the ultimate creeps.
Every chance you get remind Biden’s supporters that they created this mess, make sure you shame your friends and family as often as you can. When Biden got elected all my “Liberal” neighbors were elated, I politely reminded them that their investment portfolios were going to be worthless paper weights by the time his regime of dimwits was done. I was right, I don’t even open my statements anymore, I’ve lost so much money it’s sickening. They are destroying North America, while their wealth is protected we lose everything we worked for, it’s time for the elites to lose their wealth.
Meanwhile, even the Washington Post is admitting the service sector is slowing down: https://www.washingtonpost.com/business/2022/06/18/consumer-spending-slowing-economy/
Case in point: Friday night at 5 o’clock we went to Outback (my husband’s favorite) for Father’s Day. It was a ghost town and we were seated right away. Last night, we celebrated a birthday at Chili’s at 6 pm. Another ghost town. We never go out on Father’s Day, Mother’s Day, or Valentine’s Day so we’re pretty familiar with the crowds on the weekend days surrounding the holidays and this was not normal. Maybe the lack of customers is because some of their regulars are down the shore for the long weekend, but considering it’s Father’s Day weekend, I found the lack of customers scary.
went to bob evans for fathers day with family and no waiting and 1/2 full
Was she also brainwashed and baptized by the WEF?
They aren’t dumb. They’re psychotic. This is all intentional due to their ideology.
If COVID taught me anything, it’s the high percentage of people in this country who cannot think for themselves, have zero critical thinking skills, and believe that their ideology is the holy grail.
These people are dangerous.
When the supply chains are destroyed on purpose, it isn’t difficult for the demand to exceed supply, is it? What are the divots at the base of its neck? Hiding the bolts holding the neck to the body?? I say ‘it’, since it looks like a really ugly guy…
OMG – she looks like she came from the 50’s – and those eyebrows!
Devel’s horns
God forgive me, but I can honestly say that I have never known any female who self-mutilated her eyebrows to the extent that this broad has, who wasn’t seriously bent psychologically. Think Gloria Swanson in “Sunset Strip.”
And despite the mind-boggling visual it conjures up, I also wouldn’t be surprised if she got where she is today the good old fashioned way, like our friend the current VP. Strange bedfellows, indeed.
Loretta Mester is a graduate of Columbia and Princeton University…..The same schools keep popping up with these people….Look at all these economists and Lawyers running our Government and you’ll overwhelmingly find that most when to Yale, Columbia, Princeton, Harvard and 1 or 2 others……
such elites schools that they blend A’s B’s C’s and D’s into a grade called Pass. and F’s are Fail.
they make it cost so much so normal people can’t get in there and see how DUMB they all are.
What a joke. Not predicting a recession? We are already in a recession.
Two years for Inflation to be back down to 2%?
This will go on for a while and when the general public realizes that they’re very survival is that stake things will turn around rather quickly. As an example in the Texas school Shooting that mother did all she can to save her child’s life disregarded the officers advice and went into school and Savior to children.
The same thing will happen when things get bad enough people will disregard the law and do anything they need to do to survive.
CUT THE CORD!!!
CUT THE CORD!!!
CUT THE CORD!!
HAPPY Dad’s Day
I think they know the Truth. We are just living in a civilization in which Deception is like breathing air into the lungs. You say whatever you want… It is about how you Feel — not what is True or False or Right or Wrong.
We live in a civilization in which the sign of a proper education is saying — a male can get pregnant.
We’re f-ed….
Maybe Congress should pass an Affirmative Action Law for Biden to hire a Methodist because they certainly seem to be in short supply!
People like this woman can never conceive of a life where they drive themselves to work and actually accomplish something . They were born elites and the thought of being a regular person scares them to no end. So….they lie and say what they are told to say, get in their govt limo at the end of the day and go to party’s where they lie to each other. At the end of the day they avoid looking in a mirror, which is one reason they are ALL ugly. I wouldn’t want their life and I don’t feel sorry for them. They will get their just rewards …..someplace!
None of these people are elites. They are the product of a culture of ethnic nepotism and inclusive self promotion that excluses outsiders.
Great analogy on the beatings…I shall use that very example to “beat” my delusional work mates. Thanks!
Yes it’s the spending – financed by borrowing not money printing + energy supply shocks, + other supply shocks from supply chain chaos that is causing this, not “money printing” itself as if we were in Wiemar. The Fed can’t print money as in bank deposits, only bank reserves and paper notes. Money supply in the real world (bank deposits) is created by bank lending. And a huge component of the US money supply is offshore in the Eurodollar system, unregulated and untracked. The fact is that the Fed has very little control over any of this beyond setting very short term interest rates, and suppression of mid term interest rates by creating reserves to suck bonds out of the banking system (QE) because they have no idea what the actual worldwide US dollar money supply even is and no idea what to do about it. The idea that the Fed controls anything to the level people have been led to think is a complete fantasy.
Historic alright. For the first time in history I spent over $300 for groceries at Walmart, and the cart was not even full.
All I can say to these talking heads is “keep it up” because it’s apparently going to have to get 2 or 3 times worse before we wake up enough to come after this elitist filth.
flogging will continue until morale improves.
you will own nothing, and you will be happy.
FJB
I have read every entry starting at Chuck Todd and hear what the problem is.
From the Clinton though BushII through Obama the program has been to purge patriots and insert their functionaries from the board room to the mail room.
Even if we effect a massive Tsunami this fall, 70 seats in the house and 10-15 seats in the Senate. How do we ever undo the change in the bureaucracy done over 6 four year terms to infiltrate the government with the change we are seeing.
We can forget questions to Dimms and ask the Reps
WHATS YOUR PLAN TO UNDO THIS?
STEP ONE
CLOSE DRPERTMENTS OF ED, ENERGY, AND EPA.
Kudos to the Bribem administration on their full employment initiative for every strikingly narrow faced authoritarian clown in the country. Absolutely an amazing success.
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What an idiot! Final blows lead to death!!! How do we survive this stupid administration!!!