What Happened After Biden Ignored Flashing Inflation Warning
Joe Biden continues to assert that everything is wonderful with the economy. He went so far as to say that the increase in inflation from July to August was a mere one inch.
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He seems to believe that we are unaware that inflation has reached its highest level in the last four decades, causing hardship for all types of Americans. And now, the Federal Reserve is poised to inflict on the American people the most severe anguish that they have ever experienced. Everything is possible because of Biden’s thrift.
How can the economy be robust, as President Biden has asserted, when the Federal Reserve is poised to raise interest rates by another 75 basis points? There are many who believe they will raise it by an entire percentage point. The Federal Reserve is compelled to take this action due to the fact that inflation has not decreased, despite the fact that past rate hikes have been implemented, as well as Biden’s huge expenditure.
If the interest rate is increased, it will be more difficult for firms to obtain loans, pay down their debt, and earn a profit. Families that are looking to purchase a new home will be required to pay a higher mortgage rate as a result of this change. It indicates that workers as well as owners of businesses will experience suffering. Even the Chair of the Federal Reserve, Jerome Powell, acknowledged that this will be difficult for average Americans struggling to make ends meet.
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Not that it seemed to bother Joe Biden in the least. It would appear that he is utilizing the fear of this economy to push legislation that would increase the amount of money the government spends. In a time when we could really use every last penny, he wants to waste away our hard-earned tax funds.
To think that the decision that Biden made was the source of an all-time high in inflation is shocking. In the past year, he poured one trillion dollars into the economy, which brought the value of the dollar down.
Then he put an end to our nation’s oil and gas industry, which resulted in a significant increase in the cost of virtually everything. Now, he wants to spend even more money, which will require us to part with even more of it. Does Joe even care about the United States of America? Or, does he do so poorly at his work that he is oblivious to the harm that he is causing?