Powell was so concerned about being renominated to the Fed last year, that he refused to raise interest rates.
Meanwhile, the D’s massive spending actually caused the inflation. Powell now has no choice but to increase interest rates to get inflation under control, resulting in the falling stock market.
Had Powell raised interest rates last year, and the D’s not spent so much money, there wouldn’t have been a need to raise interest rates to current levels, and the stock would be higher today.
Meanwhile, the D’s massive spending actually caused the inflation. Powell now has no choice but to increase interest rates to get inflation under control, resulting in the falling stock market.
Had Powell raised interest rates last year, and the D’s not spent so much money, there wouldn’t have been a need to raise interest rates to current levels, and the stock would be higher today.
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