Breitbart Economics Editor-in-Chief John Carney Said He said Thursday on Fox Business Network’s “Kudlow” that the Biden administration is undermining the Federal Reserve’s attempts to curb inflation.
“You have to admit that it’s very difficult to control inflation when you have a $2 trillion deficit, and we’re going to get there,” guest host David Assmann said. Right now it’s $1.6 trillion on an annual basis, but they’re probably going to keep spending it without paying anything and it’s probably going to reach $2 trillion. ”
“That’s right, the Biden administration is undermining the Fed’s attempts to rein in inflation by implementing extremely reckless fiscal policy,” Carney said. Instead of having an unemployment rate of 3.7%, when you have an unemployment rate of 8-10-12%, you have budget deficits like those seen during a crisis. ”
He added: “There’s no reason to do it now, but they’re doing it. It makes the Fed’s job even harder. Inflation continues to rise, or at least doesn’t come down and we’re stuck where we are. I think that’s one of the reasons I’m here.”
Carney added: “All these dreams that people have about the Fed cutting rates this year, four cuts, are not going to come true.” Three times probably won’t happen. If I could take just one shot, it would be impressive. ”
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