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If the Fed thinks they need 3.5% or 4% to stamp down inflation then why would they not just move to that rate right now?
They are still operating like it's the 2010's and it isn't. This is the 1970's all over again. That they even think inflation can be tamed with a 3.8% rate is comical.
Demand being killed off because people have no god damn money is what is going to kill inflation. Housing and the labor market is going to be in shambles by year end.
Biden ought to be giving every oil company in America tax credits and free blow jobs in exchange for new oil coming to market. The world's crude market would immediately be affected by that. Even before any drilling commenced the mere idea that America was determined to provide supply would ease the cost. Instead he is criticizing them like a lecturing old fuck. Not at all surprising that the Oil industry is laughing their asses off cashing those checks.
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