Thu Aug 4, 2022 – 1:41 pm EDTThu Aug 4, 2022 – 1:43 pm EDT
(Conservative Treehouse) – While admitting that consumer spending had dropped and production of goods and services had “slowed significantly,” Federal Reserve chairman Jerome Powell announced his intention to continue targeting excessive demand.
Alongside spending and production reductions, Powell announced that consumers have “lower real disposable incomes and tighter financial conditions” while stating that “activity in the housing sector had weakened,” housing purchases have fallen, all while accepting that “business fixed investment seems to have declined in the second quarter.”
If we accept that monetary policy can only impact the demand side of the economy (regulatory policy impacting the supply side), and if we accept all of the currently existing realities of a declining demand side, as outlined by Powell, then you might wonder what excessive demand it is that he’s targeting.
The answer to that question is the secret sauce: they want less energy demand.
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The Federal Reserve, just like all the central banks around the collective western alliance, is trying to reduce the economy in order to reduce energy use. This is the monetary policy side supporting the Build Back Better, climate
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