Re:The Fed has made a historic mistake on inflation
by rnk on Monday June 13, 2022 @03:33PM
(#31730548)
I don't the this cause of inflation is settled. Right now it's higher energy prices, in large part caused by the Ukraine war. Then covid recovery caused a big demand increase, and the shipping industry building ever larger ships that can only go to the LA ports on the west coast led to a delivery shortage, which led to a squeeze, then a worldwide shortage of ICs caused auto manufacturers to have a shortage, the Ukraine war even caused wiring harness shortages. It's one thing after another, those were not caused by the Fed or stimulating spending from the government. I'm sure the government giving people money so they wouldn't lose their lives during covid unemployment was a stimulus. But there were all these other things going too.
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Re:The Fed has made a historic mistake on inflation
by thoughtstheseus on Monday June 13, 2022 @03:42PM
(#31730700)
Yes I agree. There are many causes of inflation. The two principal ones IMO are (1) Supply / demand imbalances (2) Government expansion of the money supply working through the economy.
Re:The Fed has made a historic mistake on inflation
by swader999 on Monday June 13, 2022 @03:52PM
(#31730862)
Canceling Keystone his first day in office doesn't help.
Re:The Fed has made a historic mistake on inflation
by koshergweilo on Monday June 13, 2022 @04:00PM
(#31730985)
I don't see what that has to do with the current shortage as the main bottleneck is with refining oil, not extracting/transporting it
Re:The Fed has made a historic mistake on inflation
by rnk on Monday June 13, 2022 @04:54PM
(#31731642)
That obviously did not make a difference now because it wouldn't be in use and the issue seems to be refining more than oil supply.
Re:The Fed has made a historic mistake on inflation
by thephyber on Monday June 13, 2022 @05:35PM
(#31732083)
I think you mean they Keystone XL pipeline. The Keystone pipeline has been running and Biden didn’t cancel it.
Keystone XL is a zombie project which abandoned by the development/infrastructure company. It had been stuck in regulatory review and litigation for a decade.
Environmental reviews by both the Obama Admin and Trump admin state that Keystone XL would not have lowered gasoline prices. You are pretending like all oil/gas products are fungible, when in reality most refineries in the US are not capable of refining all raw product. Hence “Energy Independence” is purely a marketing term and we still need to export lots of raw material and import other kinds of raw material to match what we are capable of refining.