Ferguson fails to address this issue in that his party shares a large part of the blame. Hopefully, the Fed will do so slowly, so we do not fall into a recession.Īs a fiscal conservative who believes in a balanced budget, I believe that the bigger fiscal problem that we as a nation face is our growing debt. Powell will raise interest rates until the economy cools down. It is a near certainty that the Federal Reserve will eventually solve our inflation problem like they normally do, under both Republican and Democratic presidents. That’s a good thing, a very good thing… and objectively the Democrats must be given credit ( ). For men, it went from 76% to 86% currently. And the 25-54 employment to population ratio for women was down to 63% in 2020 when the Whitehouse was controlled by the GOP, whereas it is 75% now. Under the previous President, the unemployment rate hit nearly 15% in 2020 (and 20% for Latino women), whereas it is now well under 4%. On the other hand, although Ferguson does not directly acknowledge it, under Biden and the Democrats we currently have a very strong national economy versus poor economic conditions under Trump. But they did it to stimulate the lagging Covid struck economy and avoid a recession, rather than cater to special interests. The Fed did not move quickly enough to tame inflation when they had the chance early on.ĭemocrats did enact overly aggressive spending programs during the Covid-19 epidemic. But, the Board of Governors of the Federal Reserve System is headed by Jerome H. Ferguson is correct that inflation is clearly too high versus historical norms and the goals of the Federal Reserve. Inflation is rising more rapidly than wages. With that in mind, let’s examine where we as a nation are fiscally and how we got here. Ferguson should instead have taken a bi-partisan approach, analyzing national problems, acknowledging that both parties are at fault, and proposing realistic solutions. Our Representative chooses to play overtly partisan politics instead of being constructive. How would Ferguson react if he were described by Democrats as a right-wing fascist enthralled by a charismatic dictator? It is senseless to use these terms unless you are looking to senselessly enrage your base in order to decimate your opponents.
Ferguson frequently criticizes Democrats by using inflammatory language like “radical” and “socialist” when describing them and their programs. In his overly partisan, largely inaccurate rhetoric, Rep. As a result of this radical spending & big-gov socialist policies, inflation skyrocketed”- Rep. “The Dems dumped trillions of dollars into a recovering economy to appease liberal special interests.
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