The Biden administration is getting desperate about inflation, a rapidly declining stock market, and an impending recession.
They know America’s economic doldrums will hit the Democrats in the 2022 midterm and 2024 presidential elections. It will hit hard, just like it’s hitting American pocketbooks now. We’re paying over $5 a gallon for gas, and summertime is hot at the pump. Heat tends to make people upset with their politicians.
So Treasury Secretary Janet Yellen is doing the air-conditioned talk show circuit to gab about inflation, minimize recession worries, and propose remedies. They include, most prominently, the U.S. Federal Reserve raising interest rates. That actually increases the risk of a stock market crash and recession.
Yellen also advocates removing China tariffs as an anti-inflation measure. Removing the tariffs is a misguided remedy that soft-on-China politicians already wanted. They are throwing…