2 years ago I predicted that Jerome Powell wouldn’t do the right thing and raise interest rates because it would have an adverse effect on the stock market which is not acceptable during a republican administration. Everyone likes to let the good times roll while they are answerable for the economy. Predictably, when the fed was rumored to raise interest rates during Trump’s term, the toddler in chief threw a hissy fit and I believe it gave Jerome Powell enough pause to reconsider the move.

The fed chair is suppose to be a non partisan position but Powell, a republican, has masterfully navigated choppy waters and made sure in not so subtle ways that any interest rate hikes would happen on the Democrat’s watch. This enables republicans to scream Jimmy Carter! Jimmy Carter! at the top of their lungs when the stock market reacts to news of the hikes.

Democrats need to do a better sell job on this economy. Yes interest rates are elevated but the biggest underlying reasons have to do the pandemic which in turn is affecting the supply chain. Unemployment has gone down from 6% to 3.9% since the Biden Administration took over. How is this getting missed by the main stream media? That’s a loaded question, I know.