{"id":426615,"date":"2022-04-05T03:04:11","date_gmt":"2022-04-05T00:04:11","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/new-fed-study-shows-biden-owns-our-economic-disaster\/"},"modified":"2022-04-05T03:04:11","modified_gmt":"2022-04-05T00:04:11","slug":"new-fed-study-shows-biden-owns-our-economic-disaster","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/new-fed-study-shows-biden-owns-our-economic-disaster\/","title":{"rendered":"#New Fed study shows Biden owns our economic disaster"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a32f69d42cce\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a32f69d42cce\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/new-fed-study-shows-biden-owns-our-economic-disaster\/#%E2%80%9CNew_Fed_study_shows_Biden_owns_our_economic_disaster%E2%80%9D\" >&#8220;New Fed study shows Biden owns our economic disaster&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CNew_Fed_study_shows_Biden_owns_our_economic_disaster%E2%80%9D\"><\/span>&#8220;New Fed study shows Biden owns our economic disaster&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>President Joe Biden loves to blame our sky-high inflation on corporate greed and\u00a0Vladimir Putin.\u00a0But a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.frbsf.org\/wp-content\/uploads\/sites\/4\/el2022-07.pdf\">new study<\/a> from the San Francisco Fed shows it was Biden himself who put America on this grim trajectory.\u00a0<\/p>\n<p>Specifically, it was the massive $1.9 trillion stimulus dumped into the US economy in early 2021 by the president\u2019s American Rescue Plan.\u00a0<\/p>\n<p>As the nearby chart demonstrates, the nation began heading into the inflationary stratosphere in early 2021, while other advanced economies, the other countries in the Organization for Economic Co-operation and Development, haven\u2019t seen anything <em>like <\/em>the soaring prices now punishing workers across America.\u00a0<\/p>\n<p>Which means that the spike is due to something US-specific, rather than global prevailing conditions. That policy, was, of course, Biden\u2019s signature economic \u201cachievement.\u201d\u00a0<\/p>\n<p>The damage it did has been massive.<strong> <\/strong><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Media<\/a>n OECD inflation went from around 1% to 2.5% during 2021. Here? From under 2% to 7% (5% excluding food and energy). And it kept on rising after that, to the nearly 8% we see now. The details are uglier still: Per the latest data, fuel oil is up almost 44%;<strong> <\/strong>gasoline, 38%;<strong> <\/strong>meat and eggs, 13%.<\/p>\n<p>Put in concrete terms, a recent Bloomberg calculation <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-29\/u-s-households-face-5-200-inflation-tax-this-year-chart\">translates this to an added $433 per month<\/a> in household expenses for 2022.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"475\" height=\"347\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/05O_INFLATION-1.jpg?w=475\" alt=\"Shaded area reflects interquartile range for OECD sample\" class=\"wp-image-21779834\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/05O_INFLATION-1.jpg?quality=75&amp;strip=all 475w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/05O_INFLATION-1.jpg?quality=75&amp;strip=all&amp;w=238 237w\" sizes=\"auto, (max-width: 475px) 100vw, 475px\"\/><figcaption>Note: Shaded area reflects interquartile range for OECD sample.<\/figcaption><figcaption><span class=\"credit\">OECD Household Dashboard: cross country comparisons<\/span><\/figcaption><\/figure>\n<p>And historic producer price inflation, a shocking 10%, guarantees even more pain ahead.\u00a0<\/p>\n<p>It was utterly unnecessary: Biden\u2019s stimulus was pure political favor-currying dumped into an economy already overheating on the demand side. Little of it had much to do with the COVID relief it claimed was the point.\u00a0<\/p>\n<p>And don\u2019t forget: The same Fed data also show that the 2020 stimulus did <em>not <\/em>touch off an inflation explosion, suggesting it was properly timed and directed.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/AP22084065618235.jpg?w=1024\" alt=\"The gasoline price board is shown at a gas station in Menlo Park, Calif., March 21, 2022. \" class=\"wp-image-21779867\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/AP22084065618235.jpg?quality=75&amp;strip=all&amp;w=2048 2048w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/AP22084065618235.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/AP22084065618235.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/AP22084065618235.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Inflation has been soaring across the US for months.<\/figcaption><figcaption><span class=\"credit\">AP\/Jeff Chiu<\/span><\/figcaption><\/figure>\n<p>Also, while Biden\u2019s move didn\u2019t <em>officially<\/em> h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>en until March and inflation was heading up before that, he was clearly signaling from the start what he was going to do, thus opening the floodgates. <\/p>\n<p>The Biden White House, despite being proved wrong over and over on the economy, is sticking to its guns \u2014 still talking about \u201cPutin\u2019s price hike\u201d and stupidly tapping our Strategic Petroleum Reserve instead of getting out of the way and letting America move back toward energy independence.\u00a0<\/p>\n<p>Yet those Fed numbers don\u2019t lie, and that chart is worth a thousand words (adjusted for inflation). Biden owns our economic nightmare.\u00a0<\/p>\n<p>And it\u2019s going to keep getting worse unless he does an about-face.\u00a0\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/04\/04\/new-fed-study-shows-biden-owns-our-economic-disaster\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;New Fed study shows Biden owns our economic disaster&#8221; President Joe Biden loves to blame our sky-high inflation on corporate greed and\u00a0Vladimir Putin.\u00a0But a new study from the San Francisco Fed shows it was Biden himself who put America on this grim trajectory.\u00a0 Specifically, it was the massive $1.9 trillion stimulus dumped into the US&#8230;<\/p>\n","protected":false},"author":1,"featured_media":426616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/04\/newspress-collage-21772291-1649115548877.png?w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[127543,1545,5069,43,28340,70551,991],"class_list":["post-426615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-4-4-22","tag-coronavirus","tag-economy","tag-editorial","tag-europe","tag-inflation","tag-joe-biden"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/426615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=426615"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/426615\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/426616"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=426615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=426615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=426615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}