President Joe Biden will depend on the Federal Reserve to fight inflation.
Speaking after the release of the absymal December jobs report, President Biden revealed that he thinks the U.S. central bank will manage price inflation that has surged to its highest level in 39 years.
“I want to be clear: I’m confident the Federal Reserve will act to achieve their dual goals of full employment and stable prices and make sure the price increases do not become entrenched over a long term, with the independence that they need,” the president said at the White House.
According to minutes released from last month’s Federal Open Market Committee (FOMC) policy meeting, the Eccles Building is ultra concerned about inflation, resulting in the likelihood of at least three rate hikes and an acceleration of quantitative tightening.
That said, considering that the Fed potentially had one of its worst years in its century-long history, why anyone would have faith in this outlandish institution is befuddling.
And ‘I’m confident all Politicians are honest and trustworthy!