Did Biden ‘Dupe the Fed?’

Gage Skidmore Flickr

A new report is alleging that Biden’s policies duped the Federal Reserve.

According to Fox Business:

Former Chief International Trade economist Peter Morici told FOX Business’ “Varney & Co.” on Wednesday that President Biden’s policies “duped the Fed” into thinking they can print as much money as they want and the “consequences have arrived.”

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PETER MORICI: The month-over-month numbers are very disturbing. We are seeing price increases that cannot be dismissed as transitory because they’re the kinds of price increases that are going to compel people to ask their bosses for more money. Compounding that with what’s going on in the gasoline market now, even before the Colonial shutdown, President Biden’s policies are very inflationary. They basically duped the Fed through Janet Yellen into thinking they can print as much money as they like and it won’t have consequences. Well, the consequences have arrived. 

When they were talking about averaging inflation over several years, I think they were talking about, well, we’ll get two and a half percent for a while to average out the one and a half percent last year and that sort of thing. But what do you do if you start getting four or five percent inflation? Consider Florida. With all those retirees, they’re getting very little interest on their money at the bank and they’re getting clobbered by inflation on the value of the balances. I mean, this is an extraordinary tax on the elderly. They’re going to be hearing about this from a lot of places. Also, inflation like this is toughest on the poor people, that are supposed to be Mr. Biden’s principal concern and constituents — good luck on that. What you’re about to see is this printing press economics, you know, that’s basically being pushed by his Council of Economic Advisers, this new monetary theory blows up in the Oval Office.

There’s enormous demand for things that people would not normally buy if it were not for the fact that they have all this extra cash. That’s the first thing. The second thing is what we buy and use has shifted, which is creating lots of kinks and brittle points in the supply chain. Some of that will resolve. But this is such a large impulse, it’s ludicrous to think. And the Federal Reserve Chairman Powell has offered no evidence to indicate that he can categorically say that this is just a burst. 

Joe Biden has only been in office for just over 100 days and the world is already in chaos.

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speedle
speedle
1 year ago

They (Biden’s puppeteers) and the Fed) know exactly what they are doing. Promise the great unwashed free stuff, print the money to pay for it, attack the rich for the resulting economic catastrophe and most importantly pave the way for their socialist centralized economy utopia. The only ones being duped are the morons who voted for Biden.

Kbar
Kbar
1 year ago
Reply to  speedle

You are correct, the Only ones being Duped are the Morons that voted for him!!! We The People knew what he would do if they could only Steal the Election of 2020!!!

Richard Hennessy
Richard Hennessy
1 year ago

Biden is a professional Washington insider politician of some 47 years. He is a master political manipulator and that’s what he does. Unfortunately, he isn’t also a leader.

typicalwhiteguy
typicalwhiteguy
1 year ago

Venezuela here we come. Thanks a load you demented criminal old SOB.

Whipsilver
1 year ago

Biden, aka “The Empty Suit” is getting this Country in a hole that will be hard to come out of. Who is giving him orders, hello Barrack, is totally screwing up our economy and we are heading for an inflation. Already, everywhere you go, groceries are getting higher, gas is getting higher, lumber has almost doubled in cost, our home and property appraisals are double digit jumping up, Not a peep out of the Democrats who I believe are trying to turn our country into a Socialist goverment. I believe if these ass..oles stay in the majority we will see a country that we will all regret.

jawad
jawad
1 year ago

If Joe Blow duped the Fed, they are not very bright. NOOOO, they know very well what they are doing. They will over-print $$$$$$$$$ until the economy collapses, and then they will have the defenseless populace at their beck and call, under their absolute control. We saw the same in the Weimar Republik, when a wheelbarrow of worthless Marks could purchase a loaf of BREAD. Go back and read Marx and Lenin!

Kbar
Kbar
1 year ago

A Liar Evil Corrupt Crooked Socialistic Communist Un-American Un-Godly pResident & Administration that Should be thrown out of office and put on trial for Treason Against America!!

Gene Ralno
Gene Ralno
1 year ago

Our imbecile in chief didn’t dupe anyone. He is the dupe, a puppet manipulated by communists hoping to control all American assets, especially the military. With such assets and combined with two or three other major powers, a small cabal of billionaires could control the world. Not to worry. The GOP is looking into it.

Jamey
Jamey
1 year ago

The federal administration in power (Democrats) spend all the money they can to try to buy people’s votes in the next election. They they take the money right back with a crippling inflation. Most people don’t understand that the federal government gets the full benefit of every inflated dollar, because they spend it FIRST – before it is actually inflated. That’s the way Washington steals people’s money – and the people can’t do anything about it. MANY people don’t even know it’s happening!

Dave
Dave
1 year ago

Before dementia joe get us all into a socialist government “we the people” must impeach his whole communist admistration to make sure that harris does not become president. that will be the end of this great country as we know it. come on congress, grow some cohonas and do the right thing.

Joe
Joe
1 year ago

Hidenbiden is an empty vasel, he is a total embarrassment. People in our government,both parties, need to jerk this dementia, danger out of office. He has no business making life and death decisions. He just ignited a war between palesinians(hamas terrorists) and Israel our closest ally, by giving the terrorists $340.000,000 with Iran to bomb our ally. This lying,corrupt,racist,sexualperv,china/ukrainian puppet, traitor, setting the middle east on fire.He allowing the cartel to run his open borders, with thousands being turned loose, and the tens of thousands getting across with out detection. This spending of his has created 6 to 8% inflation on all goods, he killed thousands of jobs. This idiot,needs to be removed,impeached his not mentally fit to lead anything,or make life and death decisions. Wake the fk up before he gets us nuked into the dark ages. He is a disaster for us and the world, get rid of this pathetic, nincompoop, he isn’t fit for office.

D MacKAY
D MacKAY
1 year ago

Joe didnt Dupe anyone Janet Yellen asked for the money bills to justify the inflationary move forward – out of control inflation is required to destroy the economy to set crininal extortion onto all the American people to compel acceptatnce of the great reset – accept the reset or starve

Linda Black
Linda Black
1 year ago

Biden has aspired to be president for 30+ years. Now that he is it’s apparent he is clueless about how solve any problem. Everything he’s done has made things worse for our country. Still think he’s the puppet and we’ve no idea who the puppeteer(s) are.

Kbar
Kbar
1 year ago

Our military leaders should step up and arrest this nut!

George Peabody
George Peabody
1 year ago
Reply to  Kbar

see the letter from 120 retired Military officers:
Open Letter from Retired Generals and Admirals
Our Nation is in deep peril. We are in a fight for our survival as a Constitutional Republic like no other time since our founding in 1776. The conflict is between supporters of Socialism and Marxism vs. supporters of Constitutional freedom and liberty.
During the 2020 election an “Open Letter from Senior Military Leaders” was signed by 317 retired Generals and Admirals and, it said the 2020 election could be the most important election since our country was founded. “With the Democrat Party welcoming Socialists and Marxists, our historic way of life is at stake.” Unfortunately, that statement’s truth was quickly revealed, beginning with the election process itself.
Without fair and honest elections that accurately reflect the “will of the people” our Constitutional Republic is lost. Election integrity demands insuring there is one legal vote cast and counted per citizen. Legal votes are identified by State Legislature’s approved controls using government IDs, verified signatures, etc. Today, many are calling such commonsense controls “racist” in an attempt to avoid having fair and honest elections. Using racial terms to suppress proof of eligibility is itself a tyrannical intimidation tactic. Additionally, the “Rule of Law” must be enforced in our election processes to ensure integrity. The FBI and Supreme Court must act swiftly when election irregularities are surfaced and not ignore them as was done in 2020. Finally, H.R.1 & S.1, (if passed), would destroy election fairness and allow Democrats to forever remain in power violating our Constitution and ending our Representative Republic.
Aside from the election, the Current Administration has launched a full-blown assault on our Constitutional rights in a dictatorial manner, bypassing the Congress, with more than 50 Executive Orders quickly signed, many reversing the previous Administration’s effective policies and regulations. Moreover, population control actions such as excessive lockdowns, school and business closures, and most alarming, censorship of written and verbal expression are all direct assaults on our fundamental Rights. We must support and hold accountable politicians who will act to counter Socialism, Marxism and Progressivism, support our Constitutional Republic, and insist on fiscally responsible governing while focusing on all Americans, especially the middle class, not special interest or extremist groups which are used to divide us into warring factions.
Additional National Security Issues and Actions:
• Open borders jeopardize national security by increasing human trafficking, drug cartels, terrorists entry, health/CV19 dangers, and humanitarian crises. Illegals are flooding our Country bringing high economic costs, crime, lowering wages, and illegal voting in some states. We must reestablish border controls and continue building the wall while supporting our dedicated border control personnel. Sovereign nations must have controlled borders.
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  • China is the greatest external threat to America. Establishing cooperative relations with the Chinese Communist Party emboldens them to continue progress toward world domination, militarily, economically, politically and technologically. We must impose more sanctions and restrictions to impede their world domination goal and protect America’s interests.
  • The free flow of information is critical to the security of our Republic, as illustrated by freedom of speech and the press being in the 1st Amendment of our Constitution. Censoring speech and expression, distorting speech, spreading disinformation by government officials, private entities, and the media is a method to suppress the free flow of information, a tyrannical technique used in closed societies. We must counter this on all fronts beginning with removing Section 230 protection from big tech.
  • Re-engaging in the flawed Iran Nuclear Deal would result in Iran acquiring nuclear weapons along with the means to deliver them, thereby upsetting Mideast peace initiatives and aiding a terrorist nation whose slogans and goals include “death to America” and “death to Israel” . We must resist the new China/Iran agreement and not support the Iran Nuclear Deal. In addition, continue with the Mideast peace initiatives, the “Abraham Accords,” and support for Israel.
  • Stopping the Keystone Pipeline eliminates our recently established energy independence and causes us to be energy dependent on nations not friendly to us, while eliminating valuable US jobs. We must open the Keystone Pipeline and regain our energy independence for national security and economic reasons.
  • Using the U.S. military as political pawns with thousands of troops deployed around the U.S. Capitol Building, patrolling fences guarding against a non-existent threat, along with forcing Politically Correct policies like the divisive critical race theory into the military at the expense of the War Fighting Mission, seriously degrades readiness to fight and win our Nation’s wars, creating a major national security issue. We must support our Military and Vets; focus on war fighting, eliminate the corrosive infusion of Political Correctness into our military which damages morale and war fighting cohesion.
  • The “Rule of Law” is fundamental to our Republic and security. Anarchy as seen in certain cities cannot be tolerated. We must support our law enforcement personnel and insist that DAs, our courts, and the DOJ enforce the law equally, fairly, and consistently toward all.
  • The mental and physical condition of the Commander in Chief cannot be ignored. He must be able to quickly make accurate national security decisions involving life and limb anywhere, day or night. Recent Democrat leadership’s inquiries about nuclear code procedures sends a dangerous national security signal to nuclear armed adversaries, raising the question about who is in charge. We must always have an unquestionable chain of command.
  • Under a Democrat Congress and the Current Administration, our Country has taken a hard left turn toward Socialism and a Marxist form of tyrannical government which must be countered now by electing congressional and presidential candidates who will always act to defend our Constitutional Republic. The survival of our Nation and its cherished freedoms, liberty, and historic values are at stake.

blob:https://1600daily.com/aaf59977-f1c4-4661-8587-7946fe4fd74e
We urge all citizens to get involved now at the local, state and/or national level to elect political representatives who will act to Save America, our Constitutional Republic, and hold those currently in office accountable. The “will of the people” must be heard and followed.
Signed by:
RADM Ernest B. Acklin, USCG, ret. MG Joseph T. Anderson, USMC, ret. RADM Philip Anselmo, USN, ret. MG Joseph Arbuckle, USA, ret.
BG John Arick, USMC, ret.
RADM Jon W. Bayless, Jr. USN, ret. RDML James Best, USN, ret.
BG Charles Bishop, USAF, ret.
BG William A. Bloomer, USMC, ret.
BG Donald Bolduc, USA, ret.
LTG William G. Boykin, USA, ret.
MG Edward R. Bracken, USAF, ret.
MG Patrick H. Brady, MOH, USA, ret. VADM Edward S. Briggs, USN, ret. LTG Richard “Tex’ Brown III USAF, ret. BG Frank Bruno, USAF, ret.
VADM Toney M. Bucchi, USN, ret. RADM John T. Byrd, USN, ret.
BG Jimmy Cash, USAF, ret.
LTG Dennis D. Cavin, USA, ret.
LTG James E. Chambers, USAF, ret.
MG Carroll D. Childers, USA, ret.
BG Clifton C. “Tip” Clark, USAF, ret. VADM Ed Clexton, USN, ret.
MG Jay Closner, USAF, ret
MG Tommy F. Crawford, USAF, ret. MG Robert E. Dempsey, USAF, ret.
BG Phillip Drew, USAF, ret.
MG Neil L. Eddins, USAF, ret.
RADM Ernest Elliot, USN, ret.
BG Jerome V. Foust, USA, ret.
BG Jimmy E. Fowler, USA, ret. RADMU J. Cameron Fraser, USN, ret. MG John T. Furlow, USA, ret.
MG Timothy F. Ghormley, USMC, ret. MG Francis C. Gideon, USAF, ret. MG William A. Gorton, USAF, ret. MG Lee V. Greer, USAF, ret.
RDML Michael R. Groothousen, Sr., USN, ret. BG John Grueser, USAF, ret.
MG Ken Hagemann, USAF, ret.
blob:https://1600daily.com/c23c489e-ca08-446f-8724-a07c3d65ec0b
BG Norman Ham, USAF, ret.
VADM William Hancock, USN, ret.
LTG Henry J. Hatch, USA, ret.
BG James M. Hesson, USA, ret.
MG Bill Hobgood, USA, ret.
BG Stanislaus J. Hoey, USA, ret.
MG Bob Hollingsworth, USMC, ret.
MG Jerry D. Holmes, USAF, ret.
MG Clinton V. Horn, USAF, ret.
LTG Joseph E. Hurd, USAF, ret.
VADM Paul Ilg, USN, ret.
MG T. Irby, USA, ret.
LTG Ronald Iverson, USAF, ret.
RADM (L) Grady L. Jackson
MG William K. James, USAF, ret.
LTG James H. Johnson, Jr. USA, ret. ADM. Jerome L. Johnson, USN, ret.
BG Charles Jones, USAF, ret.
BG Robert R. Jordan, USA, ret.
BG Jack H. Kotter, USA, ret.
MG Anthony R. Kropp, USA, ret.
RADM Chuck Kubic, USN, ret.
BG Jerry L. Laws, USA, ret.
BG Douglas E. Lee, USA, ret.
MG Vernon B. Lewis, USA, ret.
MG Thomas G. Lightner, USA, ret.
MG James E. Livingston, USMC, ret. MOH MG John D. Logeman, USAF, ret.
MG Jarvis Lynch, USMC, ret.
LTG Fred McCorkle, USMC, ret.
MG Don McGregor, USAF, ret.
LTG Thomas McInerney, USAF, ret. RADM John H. McKinley, USN, ret.
BG Michael P. McRaney, USAF, ret.
BG Ronald S. Mangum, USA, ret.
BG James M. Mead, USMC, ret.
BG Joe Mensching, USAF, ret.
RADM W. F. Merlin, USCG, ret.
RADM (L) Mark Milliken, USN, ret.
MG John F. Miller, USAF, ret.
RADM Ralph M. Mitchell, Jr. USN, ret. MG Paul Mock, USA. ret.
BG Daniel I. Montgomery, USA, ret., RADM John A. Moriarty, USN, ret., RADM David R. Morris, USN, ret.
RADM Bill Newman, USN, ret.
BG Joe Oder, USA, ret.
MG O’Mara, USAF, ret.
MG Joe S. Owens, USA, ret.
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VADM Jimmy Pappas, USN, ret.
LTG Garry L. Parks, USMC, ret.
RADM Russ Penniman, RADM, USN, ret.
RADM Leonard F. Picotte, ret.
VADM John Poindexter, USN, ret.
RADM Ronald Polant, USCG, ret.
MG Greg Power, USAF, ret.
RDM Brian Prindle, USN, ret.
RADM J.J. Quinn, USN, ret.
LTG Clifford H. Rees, Jr. USAF, ret.
RADM Norman T. Saunders, USCG, ret.
MG Richard V. Secord, USAF, ret.
RADM William R. Schmidt, USN, ret.
LTG Hubert Smith, USA, ret.
MG James N. Stewart, USAF, ret.
RADM Thomas Stone, USN., ret.
BG Joseph S. Stringham, USA, ret.
MG Michael Sullivan, USMC, ret.
RADM (U) Jeremy Taylor, USN, ret.
LTG David Teal, USAF, ret.
VADM Howard B. Thorsen, USCG, ret.
RADM Robert P. Tiernan, USN, ret.
LTG Garry Trexler, USAF, ret.
BG James T. Turlington, M.D., USAF, ret.
BG Richard J. Valente, USA ret.
MG Paul Vallely, USA, ret.
MG Russell L. Violett, USAF, ret.
BG George H. Walker, Jr. USAR Corp of Engineers, ret. MG Kenneth Weir, USMCR, ret.
BG William O. Welch, USAF, ret.
MG John M. White, USAF, ret.
MG Geoffrey P. Wiedeman, JR. USAF, ret.
MG Richard O. Wightman, Jr., USA, ret.
RADM Denny Wisely, USN, ret.
RADM Ray Cowden Witter, USN, ret.
LTG John Woodward, ret.

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