The standard of living for most Americans continues to decline during the Prez Biden's presidency and whilst the election might've cleaned up your Twitter feed . . . It hasn't helped the wallets of most Americans.
What's the solution???
I'm hoping you move back to Ireland.
But in the meantime . . . A spike in interest rates hopes to stabilize the US economy.
Here's a kangaroo professor doing his best to explain whilst it's getting harder to justify voting for Prez Biden since everybody stopped watching CNN . . .
Check-it . . .
"While that seems counter-intuitive, if we want to fight inflation, why do we want to increase the costs?" said Larry Wigger, UMKC economics professor. "But the idea is to get people to slow down, to take their foot off the gas, to stop spending as much money so there's a little less activity so we can get closer to the employment level that we're actually at now."
In other words, Wigger says if interest rates are higher, most people will spend less, and that will give the supply chain the time it needs to catch back up.
Maybe . . .
But then again . . . Most economists and none of the locals want to think about the devastating threat of a deflationary death spiral . . . Or the fact that the paper money in your bank account is really just imaginary and something that depends on CONFIDENCE in the future of the nation.
Read more via www.TonysKansasCity.com links . . .
KANSAS CITY, Mo. - For anyone who's following the stock market this week, they've noticed a lot of ups and downs. And according to experts, such volatility has quite a bit to do with prices at the grocery store. Once again, this comes down to a word many have heard frequently as of late: inflation.
The Biden administration is defending its economic track record as financial markets get hit by turmoil driven by concerns about the Federal Reserve's plans to fight high inflation.
Jan 25 (Reuters) - U.S. central bankers on Tuesday will open their first meeting of the year already in broad agreement that they need to raise interest rates soon, likely in March, to slow the economy. They are likely not to hear a peep about it from the White House.
The White House celebrated its first-year economic achievements by tweeting: "When @POTUS and @VP were sworn in, our economy was on the brink of collapse." That is a flat-out lie. As Biden first set foot in the Oval Office a year ago, real GDP was growing at 6.3 percent, inflation was 1.4 percent, the price of gasoline was $2.39 a gallon and Michigan's consumer sentiment index stood at 79.
(POOL/CNP/POOL via CNP/INSTARimages/Cover Images/Newscom) Biden continues to scapegoat American businesses for government-created problems. On Monday, President Joe Biden gave a public address during a meeting with his Competition Council , discussing an executive order he issued last July. Why now? Because inflation keeps getting worse, and the Biden administration needs somewhere to lay the blame.
As major pieces of President Joe Biden's agenda remain bogged down in Congress and the coronavirus pandemic enters its third year, his approval rating continues to decline among many demographic and political groups. Today, 41% of U.S. adults say they approve of how Biden is handling his job as president, which is down modestly from the 44% who said this in September.
The Federal Reserve concluded Wednesday its January monetary policy meeting, indicating that a potential rate hike could come in March. The major stock market averages initially jumped around 2 p.m. ET, when the Fed released its policy statement. However, stocks gave up those gains and turned lower as Chairman Jerome Powell answered questions from reporters.
Developing . . .