An increasing number of financial folks are saying that the FED chairman Jay Powell was at least 8-9 months too late in addressing inflation! They were being generous when they said that! The fact is that Powell was up for renomination as the Fed chair and wouldn’t be confirmed by the Senate until May 2022. As a result there was no way he was going to rock the boat until then!
Now while the same experts are saying that inflation won’t be back to 2% anytime soon, the fact is our Washington POLS will be cooking the CPI numbers just like they have been doing with the unemployment rate over the years! So while they are proclaiming 50 year record low unemployment rates the truth is they have been changing how they measure this rate over the years, which always gives our POLS a lower employment rate! HURRAH!
And that is all I’m going to say about that!