(11-18-2021, 12:19 AM)The Drifter Wrote: Like Obama said..... Don't underestimate Joe's ability to [BLEEP] things up.......

Former Obama economic aide: I 'warned' Democrats about inflation, wonders how Biden got it 'so wrong'

Biden administration has argued Build Back Better will get Americans back to work and in turn 'reduce price pressures'

Steven Rattner, a former economic adviser for President Obama, blasted the Biden administration in a New York Times guest essay for getting the critical issue of inflation "so wrong," while reminding Democrats he and other economic experts "warned" them about this.

https://www.foxnews.com/media/former-oba...-inflation

The last 20 years show us that deficits don't inevitably create inflation. We had large deficits for a long time, but low inflation.
Deficits create fuel for possible inflation.  Nothing happens unless there is a spark. The spark is supply shortages.  Even when the shortage is resolved, the inflation can persist for a time as a cycle that feeds on itself. Raising interest rates is one of the best tools for breaking the cycle, but it won't work unless the supply shortage is resolved, whether by increases in supply or reductions in demand.

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