I’m not confident we will have growth when 2 former Fed Chairs say we need a recession to tame inflation. Thats like saying we need a liver transplant to keep you alive.
Sadly fixing inflation sometimes takes tough medicine.
We would not be in this mess if Biden had not artificially lowered the amount of fossil fuel energy available in the market, and if Biden and the Democrats had not sent government spending through the roof. If Biden had had his way, he would have passed “Build Back Better” which would have made the situation even worse.
The last time this happened was in the early 1980s when Paul Volker became “the bad guy” because he had to get the money supply and inflation under control.
The current situation might no have been as bad had if the Federal Reserve had raised interest rates a year ago. But the politicians in Washington didn’t want that so now remedial action must be taken.
My wife said that too and I’m like WTF really that’s so neoliberal and she’s like even with 10% employment my job is secure and stuff costs too much now.
You know me I run on Gasoline its coal that’s the nasty stuff. All natural gas appliances no worries less e-waste than mining lithium. I’m anti-coal but love Oil and Nat Gas. I think LNG could be a hold over fuel and many cities are powering busses that way. Last I knew build back better didn’t pass. Electric cars and bikes are a hobby movement right now where I am.
You know that was a nightmare too… Even Carter went along with him. Horrible time to be alive I heard.
They needed to do it sooner and quicker pull the bandaid.