Re:U.S. inflation reached a new four-decade high of 8.6% in May
by adam_arthur on Friday June 10, 2022 @08:57PM
(#31700977)
There were many badly designed policies in the 2020 packages too, such as the PPP.
But at least they had the benefit of the doubt that covid was novel and not well understood, and they were compromise packages with both parties involved.
The ARP was passed solely by Democrats a full year after covid lockdowns started, and was quite obviously excessive by any mathematical/fundamental measurement.
The Fed is the most complicit of all, because they had the power to unilaterally pump the breaks at any point, yet did nothing until it was far too late.
You can believe whatever you want, but it's quite obvious how this is going to look to historians.
But at least they had the benefit of the doubt that covid was novel and not well understood, and they were compromise packages with both parties involved.
The ARP was passed solely by Democrats a full year after covid lockdowns started, and was quite obviously excessive by any mathematical/fundamental measurement.
The Fed is the most complicit of all, because they had the power to unilaterally pump the breaks at any point, yet did nothing until it was far too late.
You can believe whatever you want, but it's quite obvious how this is going to look to historians.