60 comments

  1. Any solution that puts the burden on the middle class rather than the guys charging more and giving less.

    1. @Obi Juan , Amazing a poor country like Russia, can effect the rich countries of the west. Wait until you start paying new crop prices this fall

  2. Tell big business to not send jobs to foreign countries and to stop buying back their stock.

    1. Tell labor unions they’re done forcing companies to pay unskilled labor $35 an hour to sweep a floor. Tell employees that they are EMPLOYEES not company owners an if they were as smart as they think they are then they would be starting companies. Tell the morons that it’s each individuals responsibility to better themselves, not the responsibility of those who are or already have worked their way up the ladder.

    2. @Buddy Martin rofl are you serious? you can literally thank unions for modern labour laws as they exist and the majority of the remaining middle class that exists…

    1. The problem is that the economy has recovered too fast after the COVID slowdown. There’s too much demand and not enough supply, so corporations and gas companies are raising prices. Higher gas prices means higher prices on nearly all other goods. That’s the inflation we’re seeing.

  3. when it comes world investment, most people do not know where to start fortunately, great investment of the past and present can provide us with guidance💯

  4. I’d like to do his job. He has only one tool in hand but he sounds like he can fix anything with one tool. Im a plumber who needs much more tools to fix a simple water leaking.

  5. No mention of the 2 to 4 trillion the FED dumped into the markets in March 2020 to keep wall street solvent? did that hurt or help the economy?

  6. It’s been recently stated that this recession is already costing most households $500 more/month on top of rising costs in every sector! They wanna raise rates without offering better pay!💰

    1. @Ian Alan it’s been an even swap! Pay has increased for some but everything is now more expensive! Is that a pay raise?

    2. @cro – Sure, it’s still a pay raise but obviously does not raise our quality of life. It is an example of why federally increased wages that many are calling for is not a good idea. Force merchants to pay 50% more to the guy who flips your burger and you can expect the price of that burger to increase accordingly. All we are doing is creating higher inflation and a higher cost of living.

    3. My local McDonald’s now pays 18/hour to start on night shift…..

      LoL…. Never thought I’d see that in my area.

    4. @Cro Boy – You are welcome to disagree with me; but, I must point out that you continue to reference recession when in reality what you are describing inflation. Recession and inflation are two different economic conditions. In a ‘RECESSION’ demand drops and as a result supply increases; therefore, with less demand manufacturing slows down and people see wages drop and people lose jobs across all economic sectors. In an ‘INFLATIONARY CYCLE’ you will see low unemployment, higher wages, a high M1 fueling high demand, and the resulting higher prices. I have explained this in a ‘very simplistic way.’ You don’t have to have a couple of semesters of Macro-economics and Micro-electronics under your belt although it sure doesn’t hurt. I could have gone into more detail with the money supply M1, M2, M3 and M4, but that really difficult to grasp initially. You don’t study Economics in college you ‘endure it by suffering through it’. I’ve been there done that, no brag just fact!!! What proves that people are clueless as to the difference between inflation and recession is the number of thumbs-up your initial comment received.

    5. @Fisayo Falana Slave wages, i.e. minimum wage or several dollars above, have caused immense suffering and injustice for decades.

  7. The Fed: We need to raise interest rates pay no attention to the fact of us doing everything we can to prop up Wall street and transfer money from the working class to the rich business owners in the form of bail outs and buying bonds so they can in turn use said money for stock buy backs to enrich owners and investors.

    1. Low interest rates boost wall street. When wall street can borrow at 0% to buy stocks on margin against what they already own, then stocks go up b/c there is more money for the same number of shares. Raise rates and the margin bets need to make more than 0% to be a win.

  8. I think one misconception here is people seem to think the economies work like on right wing and left wing philosophies. They don’t yes either side can boost and damage an economy but they aren’t the end all be all

  9. Having experienced ups and downs in economy during my life, what I think is causing the inability to control economic fluctuations is the change in corporate goals and philosophy.

    Regardless how one judges the moral integrity of capitalism, during the middle decades of the 20th century, there was progress toward controlling monopolies and robber baron tactics and a push toward companies being a part of a community. That has vanished in the past three decades.

    I would never argue that businesses in general are more concerned for the community than for their revenues but American Business up until the late seventies depended upon the communities for their own fortunes. With the corporate mindset of pursuing profit over commitment to a community, lobbied politicians have created laws that favor corporate greed. I understand a business person wants to make money but when you look at the most respected businessmen in the world I think you will find they are the ones who are philanthropic and/or understand capitalism cannot survive without supporting the class that creates its goods.

    If workers cannot afford what they themselves produce the economy goes out of control. Today workers are more often than not unable to unionize and the desperate need for jobs in general causes workers to accept conditions that in the end may even be suicidal.

    Do we want a capitalism run by people so out of touch that they thank their overworked and underpaid employees for the toys that take them into recreational space flight?, Or do we want a capitalism that supports the people that make it work. Think of this when you vote and remember that you may be able to choose between someone who just wants to line their pockets and voice lobbyist rhetoric or you can choose someone who really gives a damn that the majority of America’s workers are now living in poverty.

  10. Two parts of the equation
    We owe the 1% for car loans, credit cards, etc. Our debts are their assets.
    That collective debt is about $2 trillion

    1. Inflation of 8.6% will cost them $172,000,000,000 One hundred 72 BILLION dollars in a year
    2. Raising interest rates recoups some of it, keeps us from borrowing more (lowering their risk), and it retards investment so they have longer to pick the bones

    1. 10% inflation on the other hand wouldn’t hurt me much at all.
      10/12 months is .733
      So for every hundred dollars that I spend today, I will need another $0.73 cents in 30 DAYS
      If I can’t MAKE more money I’ll have to shave $0.73 off my budget for every $100 I spend in the NEXT MONTH

      Replacing one stick of butter with margarine in a cookie recipe that calls for 4 sticks will save me that much – I can BUY DOWN $100 worth of inflation easily

  11. If the GD CEOs would stop taking the lions share of profits & give workers a livable income. The failure in America is due to CORPORATE GREED.

    1. how true, wish more people would understand that. Gas companies are at record profits, need to tax those record profits

    2. @Deb Foreman We are taxing those profits. Just like every other company. Including ones with much higher profit margins taking even more profits from consumers.

    1. Thank you for having the expertise to know what you’re talking about and the patience to deal with those who consistently practice the Dunning-Kruger effect, Mr. Powell.

  12. Everyone acts like they know what they’re doing or how to fix all this. They don’t. Prepare people.. if you haven’t started, don’t wait any longer. These people don’t care about the average American, just whatever sound bite they can put out to make it seem they care so they can keep that cushy job.

  13. Um OK … houses went up 21% in one year, permanently making them unaffordable for many people.

    I really don’t see the logic in the Senators argument. 5+ percent really isn’t that high in the grand scheme.

    It was 11%.

    1. The argument of Senator Warren is that interest rates cannot continue to grow up without crashing the economy. Which means high unemployment, stagflation and less investments.

  14. What do bribed elected officials do when corporations are forced to raise wages to find employees? They allow the economy to tank into recession to put people out of work and force them to accept lower pay.

    1. The public needs to give them the finger. Publish the names and profits of said companies. They need to feel the burn like tax payers

  15. Powell was late to the party w/interest rates, so what happens now with what would have worked fine if timed properly will be sort of like putting a different lens on a camera – we’ll just have to wait and hope!

  16. It’s important to emphasize that inflation falls under the purview of the Federal Reserve, not the White House.
    The Fed is charged with maintaining price stability and the recent period of elevated inflation is anything but stable. Nonetheless, the Fed continues to stimulate the economy, keeping interest rates at rock-bottom levels and only very recently moving to slow its bond buying program.
    “We put all of this on the President. We put him on a pedestal and pretend he has this power that he doesn’t have,” said JPMorgan’s Kelly. “This is the Federal Reserve’s job.”
    Even as his administration scrambles to pull all available levers to bring prices down, there remains little that Biden — or any president — can do unilaterally to tame inflation in the short term. Yet there are policies Biden could advocate for that may eventually ease inflationary pressures.

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