Powell Pulls the Hope Out From Under the Market – Ep 852
The Peter Schiff Show Podcast
00:00
Is Fiscal Policy a Headwind for Inflation?
Powell implied that he was worried about fiscal policy because it was going to take spending away from consumers. He turned out he didn't have to worry because consumers were able to make up for the lack of money coming from the government with their ample savings. Powell was thinking that fiscal policy was a headwind because it removed purchasing power from the economy. No, it added purchasing power to the economy and that's what made it a headwind for the inflation fight. Now, doesn't Powell understand that? Or did Powell just completely misinterpret the question?"
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