I would rate JPow's record as Fed Chair better than his three immediate predecessors Yellen, Bernanke, and Greenspan. The only one I think did better was Paul Volcker. And here is why I think JPow is better than those in-betweeners. And he is certainly better than Arthur Burns and J McChesney Martin.
One mistake Volcker made was thinking that the recession that was happening in 1982 was over, and deciding to drop the Fed Funds rate. This was the cause of the runaway inflation that followed in 1983 and his response to raise the Fed Funds rate quickly toward 20%. JPow sees that as Volcker's mistake and doesn't want to repeat it. That is the reason he's saying that rates may still have to increase. Unfortunately, this puts him between the proverbial rock and a hard place. He can choose to drop interest rates and see runaway inflation, or keep raising interest rates (although at a slower pace than last year) and cause a break in the nation's economy.
I don't think JPow likes those choices, but the Fed mandate does not say anything about doing right for the nation's economy. But it does say something about inflation.
As to Putin assassinating Prigozhin, my money is on the CIA. Prigozhin is Putins man in Africa to establish a foothold for Russia vs China's why would he get rid of him. Rigozhin's play at Moscow was a against Putin's military leader, not Putin.
I don't think there's a Russia vs China situation in Africa. I think those two are collaborating with each other because of the way the US has treated Putin over the last 30 years.
I would rate JPow's record as Fed Chair better than his three immediate predecessors Yellen, Bernanke, and Greenspan. The only one I think did better was Paul Volcker. And here is why I think JPow is better than those in-betweeners. And he is certainly better than Arthur Burns and J McChesney Martin.
One mistake Volcker made was thinking that the recession that was happening in 1982 was over, and deciding to drop the Fed Funds rate. This was the cause of the runaway inflation that followed in 1983 and his response to raise the Fed Funds rate quickly toward 20%. JPow sees that as Volcker's mistake and doesn't want to repeat it. That is the reason he's saying that rates may still have to increase. Unfortunately, this puts him between the proverbial rock and a hard place. He can choose to drop interest rates and see runaway inflation, or keep raising interest rates (although at a slower pace than last year) and cause a break in the nation's economy.
I don't think JPow likes those choices, but the Fed mandate does not say anything about doing right for the nation's economy. But it does say something about inflation.
As to Putin assassinating Prigozhin, my money is on the CIA. Prigozhin is Putins man in Africa to establish a foothold for Russia vs China's why would he get rid of him. Rigozhin's play at Moscow was a against Putin's military leader, not Putin.
I don't think there's a Russia vs China situation in Africa. I think those two are collaborating with each other because of the way the US has treated Putin over the last 30 years.
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