There’s no good and painless answer. Except to overthrow the oligarchs… and that wouldn’t be painless.
The Fed has NO power to legislate or enforce anti-trust legislation.
Nor to roll back tax cuts for the rich and patriotic multinational corporations.
And they certainly don’t have any ability to go back in time and re-do how the pandemic was [not] addressed.
Show me a better way to curb inflation.
Paul Volcker (nominated by Mr. Carter) is given much credit for getting inflation under control (which did happen) during the first years of the Reagan administration. But a lot of poor people were pummeled financially as a result.
History will repeat. Mr. Deering is quite correct.
Whats the Republican plan again?
People have accepted that inflation makes things cost more, and that it’s here for a while, however long “a while” is. This fact is not lost on the people whose products’ costs have risen significantly. They raise their prices because they can, and they know many more people will want to blame Mr. Biden for it.
There is only one way to stop that, and that’s to stop buying stuff you don’t really need. If it ain’t selling, the prices must come down.
Same old same old……
Repubs artificially kept inflation low. Corporate execs and hedge fund managers weren’t satisfied with low capital gains rates, they borrowed against their stock options so they didn’t pay ANY taxes. People couldn’t get decent returns on savings or even CDs. The stock market went crazy with companies buying back their stock after the 2017 tax cuts for the wealthy rather than investing in their employees or the long term health of the company.
John Deering and John Newcombe