![]() Jerome Powell’s Federal Reserve is trying to match its customary 2% inflation target. That number was hit before the latest spending blowouts ( student-loan forgiveness, etc.). To understand the spot the Fed is in, consider that the last inflation print was 8.5%. As inflation rages, the Fed is seeking to reverse the damage to meet its customary 2% inflation target. On one hand we have the White House and Congress spending like crazy and inflating the economy. #Does money manager ex link to phone seriesIn a series of wide-ranging interviews, including one with me on Fox Business, Fink explained how that coordination is sorely missing in our current economic environment - something he hasn’t seen much in his 40-year career at the top of the financial industry. Not easy to do, though the Fed has pulled it off in the past by coordinating its monetary policy (control of the money supply) with the fiscal policy (spending) of the White House and Congress. It tries to raise rates and tighten credit on businesses to achieve a soft landing of the economy, in which GDP declines just enough to subdue inflation but the economy avoids a full-on recession, or at least a severe one. To tame inflation, our central bank, the Federal Reserve, engages in a balancing act. If left unchecked, it leads to economic hardships that history shows creates social unrest. ![]() Inflation is a nasty tax on the working class. Woke elites control the institutions meant to serve us Fink calls it an “irreconcilable disconnect” between what the White House is doing and Fed Chair Jerome Powell’s inflation-fighting mandate. Now he’s sounding the alarm on the potential economic harm being done in DC - much of it by his own party - that will make the Fed’s job of fighting inflation while attempting to engineer a so-called “soft landing” nearly impossible. Larry Fink said there’s a disconnect between the White House’s actions and the Fed’s inflation-fighting mandate. ![]() Another: He’s among the best risk managers on Wall Street. That’s one reason we could do far worse than Fink steering the US economy. Fink points out he’s a moderate on the woke-investing fad, advocating a transition to a green economy while BlackRock continues to invest in energy infrastructure. We’ve had our differences with Fink in the past over BlackRock’s embrace of Environmental Social Governance investing. He has strong ties to the Democratic Party and is a perennial contender for Treasury secretary under a Democratic president. He runs the world’s largest investment firm (some $8.5 trillion in assets under management). ![]() No one will ever confuse Fink with a GOP talking head. If you don’t believe me, listen to some of the comments recently made by Larry Fink, the CEO of money manager BlackRock. But the spin oozing about the Biden-renaissance narrative obscures, at least for now, some really nasty bits of economic reality that the president’s feckless policies have created. Most of my colleagues in the mainstream media believe it as well. Yes, that is what the White House wants you to believe. With Biden appearing less sleepy, the Dems might not get blown out in the upcoming midterms as was predicted just a few weeks ago. He’s recently won a big legislative victory, and his approvals are ticking higher, which means maybe the manifold failures of his presidency are a thing of the past. The headline numbers are looking good for Joe Biden lately. Listen to the whistle: Insider Peiter Zatko imperils TwitterĪ woke mouse trap: Activist targets Disney Wall Street's most coddled generation is in for a rude office-return awakening Hochul's insane green power scheme may raise New Yorkers' power costsĬruel winter ahead for Wall Street as pandemic debts come due ![]()
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