CAN NOT rule out a recession. That was first contradiction with Biden.
And the biggie:
Hagerty asked Powell, “Given how inflation has escalated over the past 18 months, would you say that the war in Ukraine is the primary driver of inflation in America?”
“No, inflation was high before — certainly before the war in Ukraine broke out,” Powell said.
“I’m glad to hear you say that,” Hagerty replied. “The Biden administration seems to be intent on deflecting blame and as recently as just this past Sunday spread the misinformation that Putin’s invasion of Ukraine is the ‘biggest single driver of inflation.’ I’m glad you agree with me that that is not the truth.”
And for @miamimike
A study released in late March by researchers at the Federal Reserve Bank of San Francisco said that in the final quarter of 2021, about 3 percentage points of US inflation — or roughly half of it at the time — may have been caused by government pandemic spending.
At that time but it's only gotten worse.
And the biggie:
Hagerty asked Powell, “Given how inflation has escalated over the past 18 months, would you say that the war in Ukraine is the primary driver of inflation in America?”
“No, inflation was high before — certainly before the war in Ukraine broke out,” Powell said.
“I’m glad to hear you say that,” Hagerty replied. “The Biden administration seems to be intent on deflecting blame and as recently as just this past Sunday spread the misinformation that Putin’s invasion of Ukraine is the ‘biggest single driver of inflation.’ I’m glad you agree with me that that is not the truth.”
And for @miamimike
A study released in late March by researchers at the Federal Reserve Bank of San Francisco said that in the final quarter of 2021, about 3 percentage points of US inflation — or roughly half of it at the time — may have been caused by government pandemic spending.
At that time but it's only gotten worse.
