Sunday, August 28, 2022

Fighting Inflation With Only Monetary Policy and Not Also Fiscal Is Like Fighting With One Hand Tied Behind Your Back

The Fed is concerned over inflation and regardless of cost
Will fight it no holds barred to sure the battle is not lost
The speeches and fine wine are flowing freely at Jackson Hole
But a study released there raises questions if the Fed can achieve its goals
There is a saying that only a fool is armed only with a knife at a gun fight

Likewise in economics fighting inflation only with monetary policies is a plan not right

Raising interest to slow demand
While government spending is completely out of hand
Only dilutes the effect but raises the unemployment pain
No matter what the Fed how high the Fed pushes interest rate inflation will not be contained
If Biden and his Blues keep flooding the nation with dollars
Trying to not enough goods trying to collar
Day 5 since Biden announced his $10k to 20k vote purchase labeled forgiveness of student debt
And total silence on how the forgiveness would be paid, assuming we would just forget
When the Inflation Reduction Act fails to implement its name
As middle class taxpayers are thrown of the pyre of increased audit flames
Wonder if more Americans will realize that have been sold a heap of rotten goods
As rising inflation destroys their savings and drugs and rising crime in Blue run cities destroys their neighborhoods

© August 28, 2022 The Alaskanpoet 

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