Whatever your interpretation of the March jobs report, the fact is, the Federal Reserve is not going to cut its interest rate target this year. Not going to do it. Inflation is inching up, not down.
Commodity prices are booming, including world oil prices. Gold has exploded higher. The official price indexes themselves have been moving north, not south, nor is the Fed going to move its 2% inflation target. Grocery prices have increased more than 50% since 2019, according to the Wall Street Journal. A typical basket of groceries worth $100 about five years ago would require about $140 today. And while the underlying strength of the economy is up for debate, it has not fallen into recession.
Biden's huge spending and taxing policies, along with his manic government regulation of energy, and his attempts to force-feed electric vehicles that nobody wants — thereby ending gas vehicles that most folks love — has caused a rebellion around the country. People don't want government bureaucrats to tell them how to live or what they can or cannot buy. This country loves freedom, not big-government statism. The country loves consumer choice as a big part of their freedom.
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