Thursday, August 04, 2022
Sign Of The Times
Walmart' s decision to cut 200 corporate jobs in light of inflation and falling profits is a sign of the times. It is a message the White House would prefer not to receive, but it reflects difficulties consumers and retailers face. It also makes recession real and not an emerging threat that President Biden can deny. The administration is dealing with two views of the economy -- one tenuous but positive and one negative. It is up to the Federal Reserve to engineer a soft landing and the window for that is closing rapidly. The Federal Reserve is being more honest than the White House. It has acknowledged the difficulty of what it is trying to do. Republicans are trumpeting bad news and blaming it squarely on President Biden, which is unfair, but par for the course. It is a challenging time for White House communicators.
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