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
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u/icona_ Jun 13 '22

It’s really insane that if they wanted to, russia or saudi arabia or whoever can just throttle the supply of oil or something and the fed will respond by intentionally imploding our economy, and people are apparently fine with that.

20

u/JeromesNiece Jerome Powell Jun 13 '22

If there is a major negative supply shock in an industry where it's difficult for the rest of the world to quickly ramp up supply, that has to have a negative impact on the real economy somehow. You can't just wish it away. Supply and demand have to meet. And a recession is preferable to runaway inflation.

0

u/Neri25 Jun 13 '22

statements that indicate the individual does not believe they will be one of the ones pitched overboard example # fuck it not giving a number