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Wednesday, April 13, 2022

Out of Control 

Inflation is still out of control in the US at 8.5% for the month of March. Although President Biden is trying to jawbone the surge down, it is clear nothing he says will make a difference.  There are times when messages fail and the only option is action.  In this case, it is the Federal Reserve's job to raise interest rates until climbing prices settle back.  The Fed can't act quickly enough for the upcoming elections and there is a growing probability that Democrats will be savaged in the midterms in both the Senate and the House.  If that happens, Biden's agenda is finished for the remaining two years of his term.  There are limits to communication and this is one.  The public is demanding an end to high gas prices and surging costs of food and housing, but there is little to nothing the President can do.  Like the rest of us, he will have to wait it out.  


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