BREAKING: Federal Reserve’s Shocking Announcement Spells Disaster For Biden’s Re-Election Campaign

(Republican Party News) – Jack Gist, writer for The Western Journal, recently penned something in an article that is going to send shockwaves throughout the entire conservative movement and leave leftists stunned. Prepare yourselves, folks. This is going to be a doozy.

Democrats can sometimes be right.

I know, I know. What’s this guy smoking? How can Democrats ever get anything right? Look at the mess they’ve made of our country and its economy. Their policies have obliterated urban areas and caused massive spikes in crime due to leaving the southern border wide open. How in the world can they be correct on anything?

Gist wrote, “In 1992, while working as Bill Clinton’s campaign manager, Democrat political strategist James Carville famously said, ‘It’s the economy stupid!’ when he got sick of being asked what the next presidential election was about. He was right then, and he’s right now. That’s why things continue to grow darker for Joe Biden’s bid for re-election this fall. The economy sucks, no matter what Biden’s talking heads say about it.”

“On Tuesday, Federal Reserve Chair Jerome Powell made it clear that the elevated inflation rates hanging over the U.S. economy like a dark cloud getting ready to pour rain will most likely postpone interest rate cuts until later this year, according to the Associated Press,” the article continued.

In other words, the super high interest rates we’re seeing right now that are keeping individuals from purchasing homes and cars among other big ticket items, will be sticking around for quite some time. And that could be the proverbial nail in the coffin for President Joe Biden’s presidential reelection campaign.

Powell, who took part in a panel discussion at the Wilson Center, commented, “Recent data have clearly not given us greater confidence” inflation is under control and “instead indicate that it’s likely to take longer than expected to achieve that confidence.”

“If higher inflation does persist,” he then stated, going on to add, “we can maintain the current level of (interest rates) for as long as needed.”

As long as needed, eh? That statement makes it seem as if these interest rates are going to be around forever.

With no evidence that inflation is going to be tamed and brought under control, the remarks made by Powell suggest that the central bank is likely to carry out less than the three quarter-point reductions the Federal Reserve originally forecast in March.

“When asked directly about the Fed’s March 7 comments to Congress that it was ‘not far’ from gaining the confidence needed to cut rates, Powell dodged the question by saying his ‘main message’ was that the U.S. central bank needed more data before it could change policy, according to Reuters,” the WJ report disclosed.

“It’s appropriate for us to be careful,” Powell remarked.

Gist goes on to note the average American likely stopped listening to the Fed after they repeatedly asserted that the economy was doing great. After all, this statement isn’t lining up with their experience when they go to the grocery store or gas station and are forced to spend two to three times more for the items they need. It’s clear the government is more concerned with saying what they think people want to hear, rather than the truth. The goal is to get Biden reelected. Nothing more.

“Gas prices are up 14 percent this year alone, according to ABC News. Eviction rates have spiked 78.6 percent since 2021, according to the Associated Press. If you’ve been kicked out of your apartment because you can’t afford the rent and are forced to live in your car but can’t afford any gas — well, you get the picture. Desperate people do desperate things,” the article continued.

People who vote for Biden after all of this are probably super wealthy and don’t care about what happens to everyone else. Here’s to hoping we have Trump in the Oval Office at the start of 2025.

Copyright 2024.

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