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The Fed Can't Admit That Inflation Is Problematic

Rise in Inflation
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EDITOR'S NOTE: Even Fed Chairman Jerome Powell is backing off his claim that inflation is “transitory,” and he now admits it will be here at least deep into 2022. So, why is the Fed not acting to help stop or at least minimize the damage this inflation will cause? Fed insider Danielle DiMartino Booth, CEO of Quill Intelligence, tells Kitco News that the reason is that the central bank is scared to look political. With the stock market still reaping gains from Trump Era policies and the Congressional fight over Biden’s $3 trillion-plus spending plans, any moves the Fed makes could be seen as supporting one side of the aisle and acting to thwart the other. That is why, for now, Powell and the Fed are pushing their “supply chain disruption” story and sticking with it. That’s a lot easier than actually making a move that will be unpopular with 50% of the country but could be necessary.

Originally posted on YouTube by Kitco News.

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