Category: Economics

Categories
Economics Fox News

WATCH Fed Chairman Powell Dress Down A Fox Reporter For His BS Claims About Inflation

Federal Reserve Chairman Jerome Powell set a reporter from Fox Business straight on the basics of the U.S. economy and inflation Wednesday during a press conference.

During the press conference, reporter Edward Lawrence suggested that government spending was partially responsible for inflation, remarking:

“Inflation has been rather sticky, so do you need help from the fiscal side to get inflation down faster?” 

Powell replied:

“We don’t give advice to the fiscal authorities, and we assume that we take fiscal policy as it comes to our front door, stick it in our model along with a million other things, and we have responsibility for price stability. And we will get inflation down to 2% in time.”

Lawrence tried again to link spending to inflation:

“But the spending that’s happened is working against what you are doing, right? So it’s prolonging inflation?”

That led Powell to dress down Edwards:

Categories
Economics Fox News The Trump Adminstration

Karine Jean-Pierre Sets Peter Doocy Straight When He Whines Biden Is ‘Bragging’ On Falling Gas Prices

Fox News correspondent Peter Doocy absolutely hates when good news arrives for President Joe Biden and the administration, as proved today when he whined that the president had been “bragging” on falling gas prices earlier in the day.

Specifically, the president noted:

“You know, we’ve seen some progress. Gas prices are coming down. They’re down almost a dollar a gallon where—from where they were just a month ago.”

That led Doocy to ask White House Press Secretary Karine Jean-Pierre:

“Why is the president bragging today about gas prices?”

The press secretary responded:

“Because it’s gone down.”

Doocy:

“It’s still $1.72 higher than when he took office.”

Jean-Pierre:

“It is come down in a way that we haven’t seen–its trajectory coming down in over a decade.”

The Fox reporter continued to press:

“So, over $4 a gallon, is that good?”

Jean-Pierre:

“You want to talk to a nurse or a teacher or a firefighter if having that little bit of breathing room doesn’t matter to them?”

Still trying to provoke Jean-Pierre, Doocy asked:

“Are nurses and teachers and firefighters saying, ‘Gas prices are only $4.11?'”

That’s when Jean-Pierre shut down Doocy with facts:

“I’m saying that even that little bit of breathing room matters to families, especially during the summer when people are traveling, when people are trying to do what they can for their families.”

She then added:

“To say that the changes, the drop that we have seen at the pump per gallon does not matter, I think that is wrong. I think that is not true and I think that does give a little bit of space and breathing room for families and is important.”

 

Categories
Economics Fox News WTF?!

Fox News Host Claims Milk Now Costs $11 A Gallon Due To Inflation

Last time you went to the grocery store, how much did you pay for a gallon of milk?

I was in the grocery store on Wednesday and one of my purchases was a gallon of 2% milk, for which I paid $4.06.

But according to Fox News host Sandra Smith, she had to pay $11 for a gallon of milk in New York, Mediaite reports:

“You have the egg-o-meter, I have the milk-o-meter. I bought a gallon of milk last night. Granted we live in New York, things are higher priced than in a lot of other areas in the country. It is nearly $11 for a gallon of milk at a New York grocery store.”

Even in New York, the only thing you would pay $11 a gallon for is certain select organic brands of milk. But the average gallon costs nowhere near that, no matter were in the U.S. you happen to be.

According to the USDA’s ’s Agricultural Marketing Service, “the average price for a gallon of milk in NYC rose from $4.60 at the beginning of the year to $4.69 in March.”

Twitter users were only too happy to declare Smith’s statement to be complete bullshit, because it most certainly is.

https://twitter.com/Tmbrdly1964Tom/status/1517584935443263489?s=20&t=JqVLD85hMXqPJrjEDhv3Fw
https://twitter.com/RobbLoeb/status/1517504237906898945?s=20&t=JqVLD85hMXqPJrjEDhv3Fw

Another day, another lie from Fox News. It’s their calling card.

 

Categories
Economics GOP The Biden Administration

Lauren Boebert Tried To Zing Joe Biden On Inflation – It Did Not Go Well For Her

Colorado Republican Congresswoman Lauren Boebert has been a member of the House of Representatives for almost a year now, and yet she hasn’t accomplished a damn thing other than a few snarky tweets, a lot of posturing, and the occasional attempt at pretending she should be taken seriously.

Such is the case with a tweet Boebert (a.k.a. Bobo) sent out on the topic of inflation, which is indeed on the rise, due in large part to the pent up demand of consumers who stayed home for over a year during the worst of the COVID pandemic and are now on a spending spree. Increased demand leads to a rise in prices. It’s the basics of economics: Supply and demand.

But rather than provide any solutions, Boebert fired off this brainless post:

So Bobo is worried about the troops? Then why doesn’t she propose legislation that would raise their salaries? Because that would require her to do some work, and all she really wants to do is whine and try to score political points.

Boebert also neglected to mention that the Biden administration has done something to help every American family with children in the form of the expanded child tax credit, which is providing $250 to $300 per child for working parents across the country. Would Boebert be in favor of extending that tax break? Hardly! Her party has been the one fighting to do away with the child tax credit since it went into place.

The congresswoman was quickly swatted down on social media:

https://twitter.com/NorrinR06303580/status/1476930348088901640?s=20