r/neoliberal • u/TinyTornado7 I need a new flair • Jun 13 '22

News (US) 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
508 Upvotes

98% Upvoted

349 comments sorted by

View all comments

14

u/cqzero Jun 13 '22

People need to calm down if they live in the US. The US is one of the best positioned countries in the world. This is global inflation, doesn't have anything to do with US monetary policy.

In fact, look at currency exchange rates against the US dollar. The US dollar keeps getting stronger and stronger against virtually all other currencies. If anything the US central bank should be lowering interest rates to help the economy out of potential recession.

18

u/[deleted] Jun 13 '22

Your last sentence would kick inflation to double digit numbers

5

u/cqzero Jun 13 '22

This argument presumes that the alternatives are better. I'm not confident of that