Scholarship table
inflation was a major problem before Putin invaded Ukraine and the unemployment rate is very misleading because our labor participation and overall production isn't good. I fear major job cuts in the relative near future. And of course there are a plethora of foreign policy issues that are worrisome to put it mildly. I think the world is as dangerous as it's been since pre WW2 and we need to get our heads out of our asses frankly.
Income inequality? Agreed.Rising fascism, including in America? agreed.Desperate need to make painful sacrifices in order to protect our planet for future generations of humans and animals? Agreed There will be turbulent economic times ahead? Agreed. Do yourself a favor. Step away from cable news and go get involved in something you are passionate about. Channel that anxious energy into making a change where you are.
First of all I don't watch cable news. I read the WSJ and look at articles in rearclearpolitics. Secondly, what exactly is a semi-fascist which now seems to be a talking point and has now been exclaimed by the current press secretary and our president? Is it even possible to be a "Semi-Fascist"? That seems rather oxymoronic to me. Lastly you are correct, this world and our country has enormous problems, but it's about whether our solutions/policies are making things better or worse? I don't give a crap who you voted for or what political party you generally support. This is about people hurting now and the terrible economic situation we're in presently.
I’m doing great economically.
Me too. And, sorry to say, real clear politics is a wasteland. I’m sorry because I used to work and play basketball with one of the founders who was a great guy. Not sure any longer.
The only thing the fed can do is raise rates. Which will lead to elimination of jobs and hurting of the poor because crap rolls downhill.
Dude, I can't take anyone who likes classic rock with a flute seriously.
Wow. This thread is loaded.I've been buying the market big in the last couple months. Discounts abound.edit:Yes, but the job market is still great. I passed at least 5 signs today advertising $15/hr starting. Nobody willing to work right now is really "hurting" we're all just re-adjusting. I did squeeze a contractor on their rates today, they readjusted and now we're in agreement. Everyone keeps their job!
Seems like the free/cheap money is drying up.
Corporate/capitalist profiteering and supply disruption has screwed things up.Congress refuses to act.The only thing the fed can do is raise rates. Which will lead to elimination of jobs and hurting of the poor because crap rolls downhill.There isn't a solution - if Congress won't act - that won't disproportionately impact the working class. And the owner class is totally okay with that because they won't be forced to continue to raise wages anymore due to a tight labor market.
“Terrible economy” is an opinion. Some economists would agree with your opinion, some would disagree.People of one political party are motivated to repeat endlessly that the economy is “terrible”; those of the other party are motivated to say it isn’t.
We’ve had two consecutive quarters of negative growth. That’s a recession by definition, not opinion.informed one.
Yep, they’re thick as a brick.
Saw a note yesterday that corporate profits are the highest they've been since 1950.
The Federal Open Market Committee's (FOMC) overarching focus right now is to bring inflation back down to our 2 percent goal. Price stability is the responsibility of the Federal Reserve and serves as the bedrock of our economy. Without price stability, the economy does not work for anyone. In particular, without price stability, we will not achieve a sustained period of strong labor market conditions that benefit all. The burdens of high inflation fall heaviest on those who are least able to bear them.Restoring price stability will take some time and requires using our tools forcefully to bring demand and supply into better balance. Reducing inflation is likely to require a sustained period of below-trend growth. Moreover, there will very likely be some softening of labor market conditions. While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses. These are the unfortunate costs of reducing inflation. But a failure to restore price stability would mean far greater pain.
So, the Fed is going to try to force a (controlled) recession to increase unemployment. This will lead to folks not being able to afford good/services, which help with price stability.Is that a fair interpretation of all this?Is there a reason we appear to only be seeking labor-centric avenues to control inflation?Powell himself says, above, that the burden of inflation falls on the lowest rung of the ladder the worst. So, can't we find another way to work on this problem?
To cool inflation you need to lower demand. If you lower demand, the labor market resets. And that inevitably impacts the least skilled in the workforce. In a consumer driven economy, I’m not sure what else you can do.
What about working on the supply side instead? Granted, the Fed can't really do that.
By doing what exactly?