Fed chair Jerome Powell: No sign of stagflation in US economyEven as inflation remains stubbornly high and some signs of slowing growth emerge, today's economy can't be compared to the problems of the 1970s, Powell said.https://www.nbcnews.com/news/amp/rcna150275May 1, 2024, 4:31 PM EDTBy Rob WileFederal Reserve Chair Jerome Powell said Wednesday there was no sign of stagflation in the economy, even as inflation remains stubbornly high and some signs of slowing growth have started to emerge.In remarks following the release of the Fed's decision Wednesday to leave interest rates unchanged, Powell said he didn't "really understand where talk of a stagflation scenario is coming from" given the preponderance of solid economic data.Historically, stagflation occurs when high unemployment, slow economic growth, and high inflation all happen at the same time.Powell compared today's economy, with both inflation rates and the unemployment rate below 4%, to the 1970s, the decade when most economists consider stagflation to have taken root.“I don’t see the stag, or the 'flation,” Powell said.So far, most economists agree with Powell's assessment. In a note to clients last week simply titled "No sign of 'stagflation,'" Bank of America analysts said the lower-than-expeted GDP report for the first quarter was mostly a function of accounting, and not softening underlying demand."Consumer spending ... remains resilient," the analysts said — though it is likely that that spending is helping keep inflation rights high, they added."We think that view [of growing stagflation] is misguided," they wrote.
>>1292021These the same fuckheads who said >"There wont be inflation..">"Ok there is inflation but its Trumps fault..">"Fine we caused inflation but its transitory..">"What do you mean? Inflation isnt that bad...">"Ok its bad but it isnt stagflation..."Fuck right the fuck off there buddy
>>1292021>"I don’t see the stag, or the 'flation,” Powell said.Certainly nobody could argue with that.
>>1292044>These are the same fuckheadsYou know Jerome Powell was appointed by Trump to be fed chair, right?
>>1292057Here's a good question: why the fuck does every retarded Biden supporter blame Trump for shit that happened under the Biden administration?
>>1292069Probably because most of the shit Biden has to fix originated with the previous administration. It's literally why he was elected in the first place, to fix what Trump broke.
>>1292071So when we inevitably enter a civil war, does that mean we get to blame Biden?
>>1292069There are no such things as Biden supporters, only people who know the alternative to Biden is much much worse than Biden.
>>1292072People just like you have been dreaming about "The Day of the Rope" since LBJ was president. Still hasn't happened and probably not going to.
>>1292074Realistically if it was going to happen it would have happened in the 1970s when there were a lot more white and black nationalists, and homegrown terrorists like the Symbionese Liberation Army and the KKK were all over the place. Today's gravy seals and doomers with bunkers aren't nearly as organized as the radicals from 50 years ago, even with social media.
>>1292069why do you blame obama for the 2008 subprime mortgage crisis?
>>1292069Because conservative retards don't understand the concept of delayed outcomes. The impact of most major pieces of legislation, particularly economic, don't kick in until a few years after its first implemented. Far right dipshits think that when a president makes a decision he snaps his finger and it instantly happens, therefore they're confused when we talk about Trump policies that have had impacts during Biden's presiideency.
>>1292073Good post
>>1292021>there was no stagflationa record number of Americans were homeless in 2023. a record number killed themselves. wages haven't done jack shit to keep up with the price of food or housing
>>1292175>price of food or housingThat's fine, we just don't count those towards inflation any more and nobody notices.
>>1292181top fucking keke>if you don't look at child care, medical care, housing, colleges, cars, fuel, heating, and food biden actually lowered inflation
>>1292073There are Biden supporters on the board.Additionally, those people thought the alternative was worse thanks to corporate media inciting them to freak out.They soon figured out after a thorough no-lube ass raping from Bidenflation they were retarded.
>>1292069>>1292071They can blame whatever they want, but pretending it isn't happening is gaslighting.
>>1292100So it's fair game to say Trump's policies are doing everything they can to mitigate the disastrous impacts of Biden's policies, however futile that may be
>>1292098We don't, we blame Bill Clinton and the AHA>>1292073Given that Biden has the lowest approval rating of any President in history, it seems that there's nobody who actually believes this anymore
>>1292227such as?
>>1292231You seem to confuse approval rating with approving of Trump in comparison. I hate Biden as a leader, I would choose almost anyone else for that job. Anyone else but Donald Trump. The only person who I could think of that would be worse for the job of president than Joe Biden is Donald Trump.Not trolling you or being a wise ass. This is my honest feeling and the feeling of the majority of people I speak to. Of course this is a small group and will suffer from confirmation bias, but this is still the main discourse I hear about our upcoming election.
>>1292238>You seem to confuse approval rating with approving of Trump in comparison. Naw, you're just butthurt. At this point in his Presidency, Trump had a higher approval rating>The only person who I could think of that would be worse for the job of president than Joe Biden is Donald Trump.The polls and comparative approval ratings between the two men seem to disagree anon.>Not trolling you or being a wise ass. Of course not: you're just full of shit and given by the way you type, an out of touch boomer.
>>1292239Source for any of this shit? (besides your ass)
>>1292239Wow, you are so deep inside Trump’s ass. Can you breathe in there? Wish you could spell out why you like Trump so much without resorting to hate speech. But we can’t expect a rational response from irrational people.
