BREAKING: Biden Doubles Down on Failed Monetary Policy

PJ Media

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Presidentish Joe Biden on Monday nominated inflation dove Jerome Powell to a second term as chairman of the Federal Reserve after a year in which inflation became Americans’ top concern.

In a statement, the White House says that during Biden’s first year in office, Powell “oversaw a landmark re-evaluation of the Federal Reserve’s objectives to refocus its mission on the needs of workers of all backgrounds.”

However, CNBC reported earlier this month that “inflation has taken away all the wage gains for workers and then some.”

“Real average hourly earnings,” wrote Jeff Cox, “when accounting for inflation, actually decreased 0.5% for the month. A 0.9% inflation increase negated a 0.4% rise in wages.”

Inflation hits hardest those who can afford it least.

If that’s the Fed successfully looking after the “needs of workers of all background,” I’d hate to see what happens when Powell slips up.

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