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Wednesday, August 10, 2022

Biden Adviser Sperling: Powell’s Right, But Pre-Invasion Inflation Was Due to COVID

On Wednesday’s broadcast of CNN’s “The Lead,” Senior Adviser to President Joe Biden Gene Sperling agreed with Federal Reserve Chairman Jerome Powell’s statement that there was high inflation before Russia invaded Ukraine and argued that the inflation that existed prior to the war in Ukraine was “related to” the coronavirus pandemic because the pandemic caused the economy…

Breitbart Business Digest: Democrat Inflation Narrative Is Running Off the Rails

Sen. Elizabeth Warren, the Massachusetts Democrat, warned Federal Reserve Chairman Jerome Powell that his single-minded determination to bring down inflation might “drive the economy off a cliff.” Warren accused Powell and his fellow Federal Reserve officials of not tailoring their inflation solution to the specific problem of inflation. She had Powell confess that there is…

‘I Saw That Coming’: Daily Caller Reporter Slams Biden Admin For Acting Like Inflation...

The Daily Caller’s Kay Smythe criticized the Biden administration’s deflection of responsibility Sunday while speaking on Newsmax about the economy.Smythe lambasted the administration for trying to blame rising inflation on Russian President Vladimir Putin, saying that the administration should take responsibility for injecting stimulus into the economy and printing more money. Smythe said there has…

Breitbart Business Digest: Everyone Has a Job and No One Is Happy

The April employment reports released Friday perfectly encapsulated the economic moment: everyone has a job and no one is happy about it because of inflation. Job growth remains surprisingly strong. Nonfarm payrolls grew by 428,000 jobs, beating the forecast for 380,000. The forecast figure would have been impressive in any economy and the beat even…

Breitbart Business Digest: It’s Not Over

The faith of the followers of Fed Chairman Jerome Powell is fickle. Yesterday, Powell set the market on fire with hope by putting a ceiling on rate hikes. The Fed would probably raise rates by 50 basis points a couple of more times, Powell said, before dropping the hikes down to 25 basis points when…

Breitbart Business Digest: Jerome Powell and the Tears of Saint Patrick

While the story of ridding Ireland of serpents will always be Saint Patrick’s best-known achievement, there are countless other miracles attributed to the man. Many of them revolve around wells or springs. In one of the tales, freshly melted winter snow overflowed a brook so badly that it threatened to flood the surrounding village. Saint…

KOLB: Conservatives Should Have An Unlikely Ally In Opposing Build Back Better

Once it starts, inflation can destroy not only a nation’s economy but also its underlying social fabric.Don’t just take it from me. No less an expert than the founder of the former Soviet Union, Vladimir Ilyich Lenin, explained that “[t]here is no subtler, no surer means of overturning the existing basis of society than to…

Fed Chair Jerome Powell Pivots to Inflation Fighting

Federal Reserve Chairman Jerome Powell said Tuesday that the Fed’s target for inflation had been reached and that the Fed would consider accelerating the wind-down of its easy-money policies in light of persistently high inflation. The announcement marks a major pivot for Powell into an inflation-fighting mode. Until Tuesday’s testimony before the Senate Banking Committee,…

‘It’s Ravaging Our People’: John Kennedy Holds Nothing Back With Powell, Yellen Over Skyrocketing...

Republican Louisiana Sen. John Kennedy pressed Federal Reserve Chairman Jerome Powell and U.S. Treasury Secretary Janet Yellen on the continuing rise of inflation on the Senate floor Tuesday.“Is the Fed considering increasing the pace of its tapering? We’ve got to get control of inflation, it’s ravaging our people,” Kennedy told Powell. “I think what we…

Sen. Warren Calls For Investigation Into Federal Reserve Officials’ ‘Ethically Questionable’ Stock Market Trades...

Democratic Sen. Elizabeth Warren on Monday called for the Securities and Exchange Commission (SEC) to investigate stock market trades made by Federal Reserve officials.Warren wrote a letter to SEC Chairman Gary Gensler, saying he should investigate the “ethically questionable transactions” made by three Federal Reserve members. “I am writing to ask that the SEC investigate…

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