www.zerohedge.com BY TYLER DURDEN
Something curious took place a month ago during Powell’s semi-annual testimony before a (still-Democrat controlled) Congress: whereas it was quite clear that Biden was calling Powell and demanding an end to inflation (which the White House had unleashed with its trillions in stimmies), most other vocal Democrats, and especially the progressives, were warning the Fed Chair that there is hell to pay if the Fed’s hikes push the economy into recession.
âWhatâs worse than high inflation and low unemployment?â asked Senator Elizabeth Warren as the Fed chief gave congressional testimony last month. âItâs high inflation and a recession with millions of people out of work…. I hope youâll reconsider that,â she added, âbefore you drive this economy off a cliff.â
Which is funny, because in recent days Biden – who was adamant in “explaining” that the soaring inflation of 2022 was out of his control and was solely “Putin’s price hikes” – has been taking credit for the modest dip in gasoline prices thanks to the most grotesque abuse of a Y-axis in history…
