Draggin' Over Dragons: Joe Rogan Shields Himself Against Joy Behar's Fiery Flames
'The Golden State Is eating Its Golden Geese' California Defaults on Loan: Businesses...
Rescue Party: The Dems Desperate Search for a Normal 2028 Presidential Candidate Begins
Daytime Dysfunction: 'The View' Continues to Give ABC's Lawyers MAJOR Headaches
Literally NO ONE Is Asking for This: CBS News Insists 'Some' Voters Are...
Heaven on Earth: Take a Glimpse Inside the Restored Notre Dame Cathedral
Unpopular Opinion: Rand Paul Warns Trump Against Using Military to Deport Illegals, Gets...
Donald Trump Nominates Former Florida AG Pam Bondi for Attorney General
Bob Casey Jr Finally Concedes to Dave McCormick in Pennsylvania Senate Race
This TOTALLY Did Not Happen! Climate Activist Says Hurricanes Convinced His Barber Climate...
LET THEM FIGHT: Cenk Uygur Calls Out Joy Behar and 'The View' and...
Daily Mail: We're All Gonna Die From Climate Change! (In 75 Years, That...
'You'll See Things Our Way': Jaguar DOUBLES DOWN on Cringe Ad With Vaguely...
Mayor of Dearborn, Michigan Will Have Netanyahu Arrested If He Enters the City
Biden's America: NFL Issues Security Alert for Players Regarding S. American Crime Syndica...
Premium

Obama adviser Steven Rattner: "The 'transitory' debate is over. Inflation has arrived, faster than most predicted"

Steven Rattner, a former adviser to the Treasury Department under President Barack Obama, has a new op-ed in the  New York Times titled, “I warned Democrats about inflation. Why didn’t they listen?”:

What make’s Rattner’s critique important is that he’s arguing that Biden’s Build Back Better bill with “spark more inflationary pressures field by budget gimmicks”:

And he’s calling on the administration to “come clean with voters about the impact of its spending plans on inflation”:

Yes, how DID the administration “loaded with savvy political and economic hands” pushing socialist and big government policies “have gotten this critical issue so wrong?” It’s a real mystery!

And before Dems distance themselves from Rattner, he’s a “pillar of the Democratic party establishment”:

He does have a plan:

But Dems won’t like it. His conclusion from the op-ed:

For the Fed, addressing inflation will mean raising interest rates, perhaps sooner than it thinks necessary. The Fed targets average annual inflation of 2 percent. So if or when the pace of price increases gets stuck far above that level, the central bank will need to raise interest rates to address the problem. While the Fed thinks this won’t happen until late next year, the bond market believes rates will be hiked by midyear.

The responsibility for easing inflationary pressures also lies with the Biden administration. To its credit, it is scrambling to address the supply shortages, doing things like unclogging ports. But other ideas, such as releasing oil from the Strategic Petroleum Reserve, amount to distracting symbolic moves that are unlikely to have a significant effect on inflation.

The White House needs to inject some real fiscal discipline into its thinking. Given the importance of Mr. Biden’s spending initiatives, the right move would be to add significant revenue sources. Yes, that means tax increases. We can’t get back money badly spent. But we can build this economic plan back better.

Fiscal discipline going into the 2022 midterms and 2024? Not likely.

***

Recommended

Trending on Twitchy Videos

Advertisement
Advertisement
Advertisement