doodlesandyac t1_iu6a357 wrote on October 28, 2022 at 9:35 PM

Reply to comment by Enough-Crow20 in Japan unveils $200 billion in new spending to ease inflation pain by NBAtee

They aren’t being “reckless with their authority” covid happened and they had to react to an impossible situation, they overshot it and now need to compensate the other direction

lostcattears t1_iu6t7ju wrote on October 29, 2022 at 12:06 AM

What are you even smoking? reacted to an impossible situation? You mean they didn't know that printing 4+ trillion in less than 2 years themselves and that Inflation would not happen and they couldn't foresee their own stupidity?

There was zero control in the way they played out their hand. They were reckless extremely reckless. Everyone at the Fed should be replaced.

We Might of had a small recession with covid. Now we might have depression instead. This one would 100% be caused by the Fed and this would affect the entire world due to how intertwine the USA is with the entire world. This is real Blood on the Feds hand themselves not some bankers/capitalist/criminals.

doodlesandyac t1_iu6xgdl wrote on October 29, 2022 at 12:40 AM

Are you kidding me? Covid caused one of the biggest drops in economic output we have ever experienced. Maybe you didn’t notice all the businesses closed?

And yeah people in the Biden administration like Larry Summers warned him about overshooting it and getting runaway inflation. He chose not to listen to them. The US isn’t alone here, most nations did exactly what we did to prevent a global depression

Enough-Crow20 t1_iu6k2ue wrote on October 28, 2022 at 10:52 PM

they're being reckless. interest rates are going to 9% by eoy...save this then tell me later...

doodlesandyac t1_iu6n4lr wrote on October 28, 2022 at 11:16 PM

Yeah that’s because we are now in a wage-price spiral and the only way out of it is to raise interest rates and temporarily spike unemployment. Do you have a better idea?