Bernie Sanders Says Federal Reserve Is ‘Hurting’ The Economy | Eastern North Carolina Now | Independent Vermont Sen. Bernie Sanders said the Federal Reserve is not helping Americans deal with crushing inflation.

Coronavirus Disease 2019 (COVID-19)
    Publisher's Note: This post appears here courtesy of the The Daily Wire. The author of this post is John Rigolizzo.

    Independent Vermont Sen. Bernie Sanders said the Federal Reserve is not helping Americans deal with crushing inflation.

    Appearing on NBC's "Meet the Press" Sunday, Sanders claimed that the Fed's policy of raising interest rates, thereby slowing down the economy to lower inflation, is actually making difficult times worse for working families.

    "I think they're hurting the situation," Sanders said. "I think that it is wrong to be saying 'the way we are gonna deal with inflation is by lowering wages and increasing unemployment.' That is not what we should be doing."

    "This inflation thing is a real issue, it is a global issue, but at a time when working families are struggling and the people on top are doing phenomenally well, I think you don't go after working people," he added.

    Sanders also said he would not raise interest rates any further. But he refused to attribute reckless government spending as the root cause of inflation. Instead, Sanders repeated the Democrats' stance on the issue, blaming supply chain disruptions from the COVID pandemic, the war in Ukraine, and greedy corporate interests.

    "Inflation globally is caused by the pandemic and the break in supply chains," he said. "It is caused by, in my view, the war in Ukraine, obviously, and it is also caused by incredible corporate greed. And I hope everybody understands that when you go to the gas [pump], you fill up your car today, the oil companies are making huge profits, the food companies are making huge profits...pharmaceutical industry is making huge profits. We've got to deal with that issue." Sanders said.

    Sanders' comments come in the wake of another dismal report that showed inflation rose 8.2% between September 2021 and September 2022. The month-to-month increase of 0.4% exceeded analysts' forecasts, while core inflation - which factors out the more volatile food and energy categories - reached 0.6% against an estimate of 0.4%. Despite energy costs falling in some categories, a 0.8% surge in food prices and a 0.7% increase in shelter prices contributed to the headline number.

    Year-over-year inflation in September was essentially unchanged since the previous month's reading of 8.3%. Lower energy costs produced a moderation from the 9.1% inflation rate in June and the 8.5% rate in July, although gasoline prices have since returned to an upward trajectory.

    Policymakers at the Federal Reserve had raised target interest rates by 0.75% last month, a move which followed two identical hikes in June and July, in an attempt to relieve elevated inflationary pressures. The continually elevated price levels may prompt further action.

    Ben Zeisloft contributed to this report.


poll#162
In what may be the most divisive period in modern American History, even more divisive than the turbulent sixties due to today's lack of patriotism, consider what are the major catalysts causing so much of this calamity of conflict, and vote: What most instigates the division of America, on this day September 20, 2022?
  Racism within our society
  Sex realignment to the detriment of our society.
  Biden /Harris Wide Open Southern Border Policy for the Demographic Upheaval of OUR Constitutional Republic
  Rampant Crime in Democratic controlled cities, and the possible contagion elsewhere
  Covid Pandemic, and its mishandling at the political, and bureaucratic levels.
  The unresolved questions /allegation regarding the flawed 2020 General Election
  January 6th Riot or "Armed Insurrection", depending upon patriotic perspective
  Joe Biden as Divisive Leader; Ineffective and Corrupt Executive
  Failed Education Industry, from an overall perspective, regarding all levels of education.
  Propagandistic Media in complete conflict with the First Amendment's guarantee of Freedom of Speech, and the awesome responsibility of a Free Press..
  "Orangeman Bad!"
  Bureaucracy rushing to a behemoth size, its unjustified expense, and far too often overreach.
  The Weaponized Deep State for political purposes
  A secular ambivalence to all that is real.
  Record number of overdose deaths from opioids and now Fentanyl
  Biden Administration's disastrous Foreign Policy
  Bidenflation /supply chain failure inevitably evolving into stagflation and recession.
  "Ultra MAGA Extremists" freely speaking louder AND LOUDER!
696 total vote(s)     What's your Opinion?


poll#154
Inarguably, the policies of the Democrats in congress and Joe Biden as the Executive is plunging the United States into a recession, if we are not already there; a recession that was completely avoidable. Will abrupt changes in policies occur in time?
  Yes, the Democrats have a bold plan, yet to be revealed, to save us.
  No, there will have to be a complete undoing of the damage done by these Democrats.
  I can't do simple math, so how am I to understand the concept of basic economics.
1,181 total vote(s)     What's your Opinion?

Go Back

HbAD0

Latest Op-Ed & Politics

politization of leadership is biggest public concern
Twitter CEO Elon Musk said Monday that he will soon be releasing files on how the social media platform has engaged in suppressing free speech.
In the age of wokeness, ideological (re)education trumps mission-preparedness.
A new book alleges that after Ted Kennedy left his car and his passenger, Mary Jo Kopechne, in a pond off of Chappaquiddick Island, where Kopechne drowned, he returned to the party they had attended and told his close friends he wanted to say Kopechne was driving the car.
Hawaii’s largest active volcano began erupting Sunday night, with lava flow warnings issued to the surrounding area.
Apple CEO Tim Cook confirmed this morning that he's prepared to remove the Twitter app from the App Store but that he's waiting for orders from CCP President Xi before he makes a move.

HbAD1

A wave of Twitter users began impersonating government officials and major corporations after Elon Musk introduced a new scheme for verifying users on the platform.
In a dramatic ruling issued just days before midterm elections, the North Carolina Supreme Court upheld a lower court’s ruling and ordered the transfer of millions of dollars to pay for a school improvement plan designed to ensure North Carolina’s school children receive a sound basic education
Chest reconstruction surgeries performed on minors across the United States increased by approximately 400% during a three-year span, according to a new report.
bill would subsidize MSM, leave out conservative media
Christine McVie, the English singer-songwriter who helped launch the rock band Fleetwood Mac into international fame, has died. She was 79.
Research suggests that certain octopuses deliberately throw objects like silt, sand, and shells at other octopuses.

HbAD2


HbAD3

 
Back to Top