Powell Pulls the Hope Out From Under the Market – Ep 852
The Peter Schiff Show Podcast
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The Fed Is Stepping on the Brakes While the Government Steps on the Gas
Powell was asked how big the fiscal policy headwind was in the Fed's efforts to bring inflation down to 2%. Powell doesn't like answering those type of questions because they would be embarrassing for the Biden administration. He said, but first you would have thought that it would have been a headwind. But then it wasn't because he said households had so much savings that they were able to keep on spending despite this headwind. That answer makes no sense because that's a headwind on spending and the economy, not a head winds on the inflation fight.
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