Bloomberg/Craig Torres/7-23-2022
“’There has been more than enough blame for inflation to go around,’ said Mark Spindel, chief investment officer for MBB Capital Partners LLC. If unemployment rises, ‘constituents will scream and senators and House members will have to deflect blame, and that will find its way to Jay Powell.’”
USAGOLD note: And from there, if the past is any indicator, to Fed policy. If the Biden administration believes it has a problem in its core constituency with inflation, wait until the unemployment rate starts rising……
Cartoon courtesy of MichaelPRamirez.com
