Episode 46 Jay Powell Whistles Past the Graveyard in Congress

Summary:Jay Powell again admitted the Federal Reserve was wrong on inflation, believing it to be “transitory” last year but realizing it is anything but transitory. He says he’s committed to fighting it, but with merely a .25% rate cut this month and no reduction in the Fed’s massive balance sheet.But if the economy is as strong as he says it is, why not fight inflation harder?Additional Reading:Bureau of Labor Statistics Jobs Report February 2022Fed is ‘still in an inflationary policy stance,’ economist saysThe February employment report is expected to show solid job gainsWhen the Coronavirus Shutdown is over, will anyone blame their governments for the economic devastation they caused? (April 4, 2020)The State and Federal Governments’ Coronavirus Response Will Dwarf Economic Damage Done by FDR (March 21, 2020)Special Offer:Blinkist summarizes the key points of nonfiction books so you can absorb them in as little as 15 minutes! Listen to “blinks” from the books in their extensive library while you commute to work or run daily errands. Get 20% off your first year with your free trial of Blinkist here.Free Gift from Tom:Download a free copy of Tom's new e-book, It’s the Fed, Stupid, at itsthefedstupid.com. It’s also available in paperback here. It’s priced at a pre-hyperinflation level so grab a few copies for friends if you can.It makes a great introduction to the government’s most economically damaging institution for liberals, conservatives, libertarians, socialists, and independents alike.Like the music on Tom Mullen Talks Freedom? You can hear more at tommullensings.com!