By atar @Adobe Stock
In The New York Sun, Larry Kudlow explains that in the current lame-duck session in Washington, D.C., “confusion reigns.” He writes:
The more the Fed bungles inflation, the more we need Trump tax cuts.
You know what’s bothering the stock market? The Federal Reserve has no monetary compass and there is still confusion about whether the Trump tax cuts will be delayed.
There is no growth strategy right now in the political system. And there is no King Dollar end to Bidenflation in the monetary system, so no wonder stocks are falling day after day.
The Dow plunged more than 1,100 points today — the tenth straight daily decline, which is the largest drop since 1974. And like I said nothing good happened in America in 1974.
In the last days of the 118th Congress, Democrats are still pushing for incredible spending boondoggles and slush funds — and Republicans haven’t yet figured out their tax and border reconciliation strategy for next year when they take over.
The Fed has once again misread the economy as inflation in recent months has gone up not down and consumer spending has been stronger than they thought.
Most of the stimulus coming from President Biden’s $2 trillion-a-year deficit finance and the Fed keeps monetizing.
Confusion reigns.
Read more here.
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