A Recipe for Inflation Shock

FOMC Chairman Powell answers a reporter’s question at the press conference. September 26, 2018. Photo courtesy of the Federal Reserve.

Former chairman of the White House Council of Economic Advisors, Kevin Hassett, responded to James Freeman of the WSJ by email on how the fed’s shoveling cash to consumers is making life more difficult for producers:

(T)he Biden Administration is providing the biggest positive stimulus to demand since WWII, and at the same time doing everything it can to suppress supply. Higher [unemployment insurance] benefits, closed schools (which keep one parent at home), and promised corporate tax hikes practically guarantee that supply cannot keep up with demand.

It is a recipe for an inflation shock we have not seen in the U.S. in a generation.

If you’re willing to fight for Main Street America, click here to sign up for the Richardcyoung.com free weekly email.

Previous articleImmigrants Pushing Out Citizens: The Great Replacement Is Underway
Next articleThe Great Reset and Face Masks: Part III
Debbie Young
Debbie, our chief political writer of Richardcyoung.com, is also our chief domestic affairs writer, a contributing writer on Eastern Europe and Paris and Burgundy, France. She has been associate editor of Dick Young’s investment strategy reports for over five decades. Debbie lives in Key West, Florida, and Newport, Rhode Island, and travels extensively in Paris and Burgundy, France, cooking on her AGA Cooker, driving through Vermont and Maine, and practicing yoga. Debbie has completed the 200-hour Krama Yoga teacher training program taught by Master Instructor Ruslan Kleytman. Debbie is a strong supporting member of the NRA.