heelslegup
Esteemed Member
- Messages
- 592
I believe this outcome will become a model for how future admns handle this situation, No recession despite
1) Fed raising interest rates 10 times to reduce inflation caused primarily by pandemic supply chain chaos completely disrupting commerce and supply. The Trump tax cut also increases inflation since it annually gives tons of money to wealthy people who then spend it and drive up housing prices and reduce availability of affodable housing
2) dramatically reducing QE and monetary stimulus put in place during the pandemic and earlier.
Normally, that is a sure fire recipe for a recession. But through fiscal stimulus like the infrastructure projects, CHIPS Act, child tax credits etc, this balanced out the monetary supply and kept things from collapsing into a tough recession.
Good job by Biden economic team and the independent Federal Reserve
1) Fed raising interest rates 10 times to reduce inflation caused primarily by pandemic supply chain chaos completely disrupting commerce and supply. The Trump tax cut also increases inflation since it annually gives tons of money to wealthy people who then spend it and drive up housing prices and reduce availability of affodable housing
2) dramatically reducing QE and monetary stimulus put in place during the pandemic and earlier.
Normally, that is a sure fire recipe for a recession. But through fiscal stimulus like the infrastructure projects, CHIPS Act, child tax credits etc, this balanced out the monetary supply and kept things from collapsing into a tough recession.
Good job by Biden economic team and the independent Federal Reserve