Staff Reports
Jerome Powell, the Federal Reserve Chair, has officially joined a sad club of policymakers who have cut interest rates. This recent announcement marks the first rate cut in four years, and it raises eyebrows, as past reductions have often signaled an impending recession. This isn’t just a matter of economics; it’s a direct reflection of the Biden-Harris administration’s failures, which seem to extend far beyond mere monetary policy to the broader issues of illegal immigration and labor market dynamics.
During a question-and-answer session, Powell made a head-scratching admission about how the influx of millions of illegal immigrants into the labor market could lead to a rise in unemployment—something anyone with a pulse could have predicted. He noted that if only 100,000 jobs are created while millions flood into the job market, a spike in unemployment should not be surprising. This candid admission shines a glaring spotlight on the consequences of the “open border” policy championed by this administration, which clearly has had an adverse effect on American workers.
Fed Chair Jerome Powell on the border crisis: “If you're having millions of people come into the labor force then — and you're creating 100,000 jobs, you going to see unemployment going up. It depends on the trend underlying the volatility of the people coming into the country.… pic.twitter.com/WjtwFBvhhg
— Curtis Houck (@CurtisHouck) September 18, 2024
Such a blunt admission from Powell highlights the dissonance of the Federal Reserve’s previous stances. It’s worth noting that just months prior, he was playing cheerleader for illegal immigration, claiming it was necessary to stabilize the economy. Fast-forward to now, and he’s essentially saying the same policies are responsible for a significant increase in unemployment, leaving many to wonder if he has taken a page out of the say-one-thing-then-do-another playbook. The irony here is palpable—what happened to the notion that illegal immigrants would revitalize the American job market?
In a recent episode of “The Tony Kinnett Cast,” the host dissected Powell’s newfound logic about unemployment. It’s not just a “noteworthy” moment; it’s downright absurd for Powell to now pin rising unemployment numbers on illegal immigrants after having urged their welcome with open arms not so long ago. Kinnett highlighted the hypocrisy by pointing out that while native-born Americans are losing jobs, foreign-born individuals are gaining them—an unfortunate reality of this administration’s economic strategy.
The conversation turns even more bizarre when Powell’s previous statements about immigration are considered. Not too long ago, he was advocating a return to pre-pandemic immigration levels, praising the influx of illegal workers as beneficial to the economy. Now, he’s got to navigate the backlash of admitting that the very policies he once endorsed are creating economic havoc. As if that wasn’t enough to keep taxpayers scratching their heads, Kinnett also pointed out that billions of supposed new jobs are being falsely inflated due to questionable accounting from the Biden administration.
And if one thinks Powell is the only player in this misguided parade, think again. Secretary of Homeland Security Alejandro Mayorkas is also in the mix, having claimed the country needed illegal immigration to bolster the workforce. Fast forward to today, and both Powell and Mayorkas find themselves grappling with the unforeseen consequences of their policies—namely, rising unemployment and an economy in disarray. They’ve gone from desperate pleas for illegal immigration as a job-saving necessity to standing around looking bewildered as if they have no clue how they orchestrated this mess.
So, as America watches the unfolding spectacle of Powell and his economic maneuvering, it’s a sobering reminder that sometimes, what goes down in the political arena can have dire consequences for the average American worker. Inflated job numbers and unrealistic policies have real-world implications, and if this administration continues on its current trajectory, clearer skies and a stable job market might just be a pipe dream.
