Joe Biden keeps saying the economy is doing great. He even claimed inflation has only gone up “an inch” from July to August.
He seems to think we don’t know inflation has hit a 40-year high, hurting Americans of all stripes.
And now, the Federal Reserve is about to inflict the worst pain yet on Americans. All thanks to Biden’s economy.
From Fox Business:
The Federal Reserve is set to escalate its battle against inflation this week with another substantial interest rate hike, risking deeper economic “pain” for millions of households and businesses nationwide…
Some investors are even betting on a full-percentage point move as the Fed faces mounting pressure to tame demand and slow surging consumer prices.
Well, would you look at that? How can the economy be “strong” (as Biden’s claimed) when the Fed is planning on raising interest rates another 75-basis-point?
Some think they will increase it by a full percentage point.
The Federal Reserve is forced to do this because inflation has not come down–despite previous rate hikes and Biden’s massive spending.
A higher interest rate means businesses will have a harder time taking out loans, paying off debt, and turning a profit.
It means families trying to buy a new home will be forced to pay a higher mortgage rate. It means both business owners and workers will feel the “pain.”
Even Federal Reserve Chair Jerome Powell admitted this is going to hurt Americans just trying to get by.
Not that Joe Biden seems to care. He appears to be using the fear of this economy to pass more and more government spending.
He wants to burn through our tax dollars, at a time when we need every last penny.
And to think, this record-high inflation is because of Biden’s foolish decision. He flooded the economy with $1 trillion last year, lowering the value of the dollar.
Then, he shut down our oil and gas industries, which made everything much more expensive.
Now, he wants to spend more money, taking it out of our pockets.
Does Joe even care about Americans? Or is he so bad at his job, he doesn’t even see the damage he’s causing?
- The Fed will raise the interest rate again to battle 40-year high inflation.
- This comes as Biden’s economic policies fail everyday Americans.
- Under Biden, inflation continues to increase as energy prices soar.
Source: Fox Business