Rising prices are clearly the big domestic issue. But this episode of What’s Ahead examines why the two principal inflation fighters—the Federal Reserve and the White House—are floundering.
The Fed was printing too much money even before the pandemic. Thanks to a Fed gimmick, there’s $1.6 trillion overhanging the economy.
Our central bank insists on manipulating interest rates. This is a form of price controls, and the Fed may tip the economy into a downturn.
Another source of higher prices is the Covid-caused disruption of supply chains. But instead of letting the economy heal, the Biden Administration is making things worse with particularly destructive regulations, starting with its war on fossil fuels. Look at what’s happened to gasoline prices.
Source: https://www.forbes.com/sites/steveforbes/2022/02/15/the-fight-against-inflation-has-the-federal-reserve-lost-control/