I feel like we are in an economic demolition derby under Joe Biden and The Federal Reserve (with freshly reappointed Fed Jerome Powell at the helm).
Under Biden, regular gasoline prices are UP 85%. The Biden Administration recently cancelled 0il-and-gas drilling leases in Gulf of Mexico and Alaska Coast, helping to drive up gasoline prices even higher.
In the two-pronged attack out of Washington DC, The Federal Reserve is tightening their monetary policy in an effort to combat 40-year highs in inflation (caused by excessive Federal spending and Biden’s ill-advised energy policies), causing residential mortgage rates to soar 93.4% under Biden’s Reign of Error.
It is almost like the Biden Administration and The Federal Reserve are engaged in an economic demolition derby to see who can cause the most destruction to America’s middle class and lower-wage workers.
We should call the current administration and The Federal Reserve “Demolition Men.”