The news that President Biden and his team have been trying to shove down everyone’s throats has once again been proven wrong by the Federal Reserve. Despite the administration’s claims, inflation is still sky high, and the Fed isn’t buying into their twisted narrative about it magically disappearing.
There's Something Missing From the Fed's Latest Interest Rate Announcement
— Townhall.com (@townhallcom) January 31, 2024
The Federal Open Market Committee (FOMC) met recently and didn’t give in to the pressure from Biden and his buddies to lower interest rates, which are currently at the highest level since early 2001. The Fed is standing tall and firm, refusing to budge until they see some real improvement in the inflation numbers.
In fact, the FOMC had the audacity to directly contradict Biden’s claims by stating that while inflation has “eased over the past year,” it’s still “elevated.” That’s right, slowed down a bit is not the same as going down, contrary to what the president wants you to believe.
And let’s not forget, the latest release of the Consumer Price Index revealed that core inflation is nearly double the Fed’s goal at a whopping 3.9 percent. So, all the talk from the Biden administration about inflation magically disappearing is just a load of hogwash.
But wait, that’s not all! There’s another fishy detail that’s raising some eyebrows. The FOMC statement no longer includes the reassuring line that “The U.S. banking system is sound and resilient.” Now, why would they suddenly omit such a statement? Could it be that the Biden administration’s economic policies are actually causing some turbulence in the banking world? It sure seems like a possibility.
The FOMC made it crystal clear that they’re keeping a close eye on inflation and won’t even consider lowering interest rates until they’re sure that inflation is on a sustainable path to their target of just two percent. They’re not taking any chances with the economy, especially with all the uncertainty floating around.
Clearly, the Federal Reserve isn’t willing to play into the Biden administration’s fantasy world where inflation magically disappears and the economy is rainbows and unicorns. It’s about time someone stood up to their misleading claims and took a firm stance on economic reality. Keep it up, Fed!