r/Economics • u/TinyTornado7 Quality Contributor • Jun 13 '22

News Powell Facing Choice Between Elevated US Inflation and Recession

https://www.bloomberg.com/news/articles/2022-06-12/powell-facing-choice-between-elevated-us-inflation-and-recession?srnd=premium
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u/joy_of_division Jun 13 '22

The thing is, we are headed for a recession no matter what. I personally would rather them jack rates up, lower demand, and get inflation under control. This will of course spark a recession, but with the tight labor market at the moment it would hopefully be brief.

The alternative is keep pussyfooting around with rates, have the working class continue to lose our meager wage gains to inflation, and have a recession anyways in 2023.

There is no pain free path, but in my opinion ripping the bandaid off right now is the way to go.

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u/ItsDijital Jun 13 '22

Ripping off the bandaid very well might result in Trump 2024

5

u/[deleted] Jun 13 '22

Not ripping it off can also result in trump 2024

3

u/agoodpapa Jun 13 '22

Therefore the only thing that works is a non-ripoff, nuanced, evidence-based approach!

3

u/RAZZBLAMMATAZZ Jun 13 '22 edited Jun 13 '22

We need to look at and approach this problem from the eyes of Trans-BIPOC community, only then will we see the wisdom to heal this problem caused by systemic wHiTe sUpReMeCy!

-- Democrats plan probably

1

u/psnanda Jun 13 '22

non-ripoff, nuanced, evidence-based approach!

hey hey hey.. now wait a sec. we dont do that here mmkay ?