Gunny
08-07-2021, 10:51 AM
OAN Newsroom
UPDATED 7:59 PM PT – Friday, August 6, 2021Democrat Sen. Joe Manchin (W.Va.) said he’s alarmed by the Federal Reserve’s current monetary policy. In a letter (https://www.manchin.senate.gov/imo/media/doc/fed_stimulus_letter.pdf?cb) to Fed Chairman Jerome Powell on Thursday, Manchin called for the central bank to peel back its pandemic-era stimulus measures.
He said although he believes the measures were necessary during the start of the COVID pandemic, they are now sparking record inflation. “It is imperative we begin to understand that long-term policy responses tailored for an economic depression, may not be what is required for today’s economy and could result in higher than desired inflation if not removed in time,” wrote Manchin.
Last year, the Fed set short-term interest rates to near zero and started purchasing $120 billion per month in bonds to help stimulate the economy amid pandemic lockdowns. Manchin said he’s concerned with the Fed’s continuous spending at emergency levels despite the economy being fully opened at this point.
https://www.oann.com/sen-manchin-increasingly-alarmed-by-fed-policies/
A National economic emergency with disaster looming on the horizon and we have Joe Biden and the Dem mafia to look to to fix it. Lucky us :rolleyes:
UPDATED 7:59 PM PT – Friday, August 6, 2021Democrat Sen. Joe Manchin (W.Va.) said he’s alarmed by the Federal Reserve’s current monetary policy. In a letter (https://www.manchin.senate.gov/imo/media/doc/fed_stimulus_letter.pdf?cb) to Fed Chairman Jerome Powell on Thursday, Manchin called for the central bank to peel back its pandemic-era stimulus measures.
He said although he believes the measures were necessary during the start of the COVID pandemic, they are now sparking record inflation. “It is imperative we begin to understand that long-term policy responses tailored for an economic depression, may not be what is required for today’s economy and could result in higher than desired inflation if not removed in time,” wrote Manchin.
Last year, the Fed set short-term interest rates to near zero and started purchasing $120 billion per month in bonds to help stimulate the economy amid pandemic lockdowns. Manchin said he’s concerned with the Fed’s continuous spending at emergency levels despite the economy being fully opened at this point.
https://www.oann.com/sen-manchin-increasingly-alarmed-by-fed-policies/
A National economic emergency with disaster looming on the horizon and we have Joe Biden and the Dem mafia to look to to fix it. Lucky us :rolleyes: