Inflation is transitory Biden said. Why would anyone trust Biden with economics

Jun 13, 2022
7:04:59am

delinquentcoug All-American

or make a business decision if it required confidence in Biden?

Biden Says Inflation ‘Temporary,’ Affirms Fed Independence

President Joe Biden said he believes the surge in U.S. inflation is temporary and that he has told Federal Reserve Chairman Jerome Powell that he respects the central bank’s independence.

https://www.bloomberg.com/news/articles/2021-07-19/biden-says-inflation-temporary-affirms-fed-independence

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delinquentcoug

Bio page: delinquentcoug
Joined: Oct 12, 2011
Last login: May 23, 2024
Total posts: 4,225 (8 FO)

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Messages

Author

Time

Inflation is transitory Biden said. Why would anyone trust Biden with economics

delinquentcoug

6/13/22 7:04am

His own words this past November: “There’s nobody suggesting there’s unchecked inflation on the way…”

Pimpin4Paradise

6/13/22 7:15am

Broad consensus of economists believed inflation was transitory.

Genghis Spreads

6/13/22 7:17am

I don’t remember this being true, but Google doesn’t allow me to search within a time period anymore. If people weren’t

Mike Honcho

6/13/22 7:20am

Larry Summers didn't believe it was transitory and he's left-leaning.

Genghis Spreads

6/13/22 7:33am

Add Janet Yellen

Plato

6/13/22 7:44am

Janet Yellen thought it was transitory.

Genghis Spreads

6/13/22 7:45am

Maybe publicly, but she was warning him about the size of the

Plato

6/13/22 8:57am

Plausible

Genghis Spreads

6/13/22 11:54am

citation?

No touching

6/13/22 7:21am

RE: citation?

Genghis Spreads

6/13/22 7:35am

That's all you came up with?

No touching

6/13/22 9:15am

That has all the information.

Genghis Spreads

6/13/22 11:53am

That has little info. It has Sommers, who was employed previously by Biden, saying the consensus was inflation would

No touching

6/13/22 12:03pm

Summers didn't work for Biden

Genghis Spreads

6/13/22 12:09pm

He did indeed:

No touching

6/13/22 12:54pm

That's an unpaid adviser.

Genghis Spreads

6/13/22 3:22pm

Even people who call themselves experts can be wrong about somethings:

delinquentcoug

6/13/22 12:07pm

Broad consensus of hand picked economists

CougieMcCougFace

6/13/22 7:21am

While just about every layman on CB saw this coming.

kccougar

6/13/22 7:22am

Really? I asked around here why the Fed didn't raise rates yet and nobody said

Genghis Spreads

6/13/22 7:36am

Link to post?

AggieWeekendCougar

6/13/22 7:48am

RE: Link to post?

Genghis Spreads

6/13/22 8:01am

I saw 3 people who said they should, one who said they shouldn’t, and multiple

AggieWeekendCougar

6/13/22 8:07am

Who said they should?

Genghis Spreads

6/13/22 8:13am

RE: Really? I asked around here why the Fed didn't raise rates yet and nobody said

Unibro

6/13/22 8:23am

Good job.

Genghis Spreads

6/13/22 12:08pm

They all should probably lose their jobs.

Still Open

6/13/22 7:22am

Must be nice to have a job all based on theory with no real accountability.

crack

6/13/22 7:28am

RE: Broad consensus of economists believed inflation was transitory.

Dryfire

6/13/22 7:33am

Broad consensus of economists are idiots then.

Romex

6/13/22 7:36am

Not true

Backcountry

6/13/22 7:39am

I'm not an economist and I knew it wasnt transitory. Get better experts.

panacablue

6/13/22 7:40am

Lol, wrong. That’s what the administration kept telling you and you bought it.

Pimpin4Paradise

6/13/22 7:41am

I didn't hear it from the administration.

Genghis Spreads

6/13/22 7:48am

That’s literally the only place I heard it from. Biden and Psaki.

Pimpin4Paradise

6/13/22 7:51am

Most people I follow were predicting this as early as 2020.

Backcountry

6/13/22 8:18am

I'm not an economist, infact, I'm barely financially literate and I saw this

Powerbait DPM

6/13/22 9:20am

There was not a broad consensus among economists that inflation was transitory

Dryfire

6/13/22 11:26am

It wasn't unanimous. Consensus =\= unanimity

Genghis Spreads

6/13/22 12:03pm

The only people saying it would be transitory were Jerome Powell, Janet Yellen,

Dryfire

6/13/22 2:51pm

That is laughable

hitechcpa

6/13/22 1:32pm

Just saw on CNBC he also said Exxon has more money than God

crack

6/13/22 7:24am

What does he mean by “money,” because tech companies have like 15x as much cash on hand. Does Biden think Exxon should

Mike Honcho

6/13/22 7:31am

Tech companies? That's (D)ifferent. Nothing to see there.

mobius

6/13/22 7:34am

Govt makes so much money off of excise taxes

CougieMcCougFace

6/13/22 7:35am

Imagine working in oil & knowing half the country despises you while using your

txblue

6/13/22 7:46am

Just like farmers, truck drivers, construction workers and other deplorables

AZ Coug

6/13/22 11:15am

I mean, we get regular criticism of Realtors, lawyers, Health Care, the mods,

Wyomingite

6/13/22 11:36am

I don't mind someone being wrong, I care when they will not admit or correct

compcoug

6/13/22 7:54am

This isn't just a case of being wrong, they new what they were doing. They lied

Gente_Boa

6/13/22 10:46am

Have you read this board? Ton of woke clowns.

BDAWG

6/13/22 8:28am

Even Democrats are jumping ship on Biden. Can we survive 2.5 more years?

cougarnw

6/13/22 8:40am

Well, it kinda is. Once stupid politicians stop making stupid monetary...

bluecheese

6/13/22 10:51am

I am curious what monetary policy is cited as driving inflation?

Cosmokid

6/13/22 11:09am

The over-reaction to the pandemic is likely the major cause, as you mentioned.

bluecheese

6/13/22 2:22pm

Partially I agree, but I don't know why this is on our current president

Cosmokid

6/13/22 3:15pm

Back when they were reporting inflation as 5% and saying it was transitory I was

Biden Says Inflation ‘Temporary,’ Affirms Fed Independence

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