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<blockquote data-quote="bacha29" data-source="post: 5233527" data-attributes="member: 58386">He brought Paul Volker in as the new guy to run the country. The president doesn&#039;t run the country. The Chairman Of The Federal Reserve Board runs the country. Volker plainly told Carter &#039;I will fix the problem but it will cost you a second term&quot; Carter&#039;s response....&quot;do it&quot;.Oh BTW. The current Fed Chairman Jerome Powell is a Republican who was nominated by Trump and confirmed by the GOP controlled Senate in 2018. His decision to keep rates too low for too long is widely blamed by knowledgeable economists and professional traders as being the primary cause for the increased inflation. Too much free money in the market when post COVID demand rapidly expanded. As a result Fed funds rate is expected to go from zero at the beginning of this year to 2.5% by the end of the year with a 50 basis point increase next month.&nbsp; And we&#039;ll be lucky if 2.5% will do it.As for food inflation? Efforts to control Avian Flu has already required the culling of 22 million chickens . Swine Flu in Mexico has resulted in a 33% increase in the amount of pork it has to import. In both cases we are nowhere near getting the outbreaks back under control. Drought in Canada has wheat back above $11 and oats above $8. Pay no mind to the politics focus on the markets because they drive the politics.Ukraine is among the world&#039;s largest exporters of grain and is the world&#039;s largest exporter of oil seed. Thanks to Vlad it&#039;s agricultural export tonnage is projected to be cut 70%. Talk going around that rather than allowing the Russians to destroy the NEXTAT&#039;s like they did the Antonov 225&nbsp; they will pull them out of Ukraine and send them to the US.</blockquote>

[QUOTE="bacha29, post: 5233527, member: 58386"] He brought Paul Volker in as the new guy to run the country. The president doesn't run the country. The Chairman Of The Federal Reserve Board runs the country. Volker plainly told Carter 'I will fix the problem but it will cost you a second term" Carter's response...."do it". Oh BTW. The current Fed Chairman Jerome Powell is a Republican who was nominated by Trump and confirmed by the GOP controlled Senate in 2018. His decision to keep rates too low for too long is widely blamed by knowledgeable economists and professional traders as being the primary cause for the increased inflation. Too much free money in the market when post COVID demand rapidly expanded. As a result Fed funds rate is expected to go from zero at the beginning of this year to 2.5% by the end of the year with a 50 basis point increase next month. And we'll be lucky if 2.5% will do it. As for food inflation? Efforts to control Avian Flu has already required the culling of 22 million chickens . Swine Flu in Mexico has resulted in a 33% increase in the amount of pork it has to import. In both cases we are nowhere near getting the outbreaks back under control. Drought in Canada has wheat back above $11 and oats above $8. Pay no mind to the politics focus on the markets because they drive the politics. Ukraine is among the world's largest exporters of grain and is the world's largest exporter of oil seed. Thanks to Vlad it's agricultural export tonnage is projected to be cut 70%. Talk going around that rather than allowing the Russians to destroy the NEXTAT's like they did the Antonov 225 they will pull them out of Ukraine and send them to the US. [/QUOTE]

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