Something curious took place a month ago during Powell’s semi-annual testimony before a (still-Democrat controlled) Congress: whereas it was quite clear that Biden was calling Powell and demanding an end to inflation (which the White House had unleashed with its trillions in stimmies), most other vocal Democrats, and especially the progressives, were warning the Fed Chair that there is hell to pay if the Fed’s hikes push the economy into recession.
“What’s worse than high inflation and low unemployment?” asked Senator Elizabeth Warren as the Fed chief gave congressional testimony last month. “It’s high inflation and a recession with millions […]
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