Political Hypocrisy on Inflation Lets Fed Escape Blame – Ep 707
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 25 June 2021
⏱️ 61 minutes
🧾️ Download transcript
Summary
* Fed triples its estimated duration of transitory inflation.
* Republicans have no credibility to criticize government spending and money printing.
* Fed vows to make the rich richer and the poor poorer by focusing on employment rather than inflation.
* Jerome Powell refuses to acknowledge whether being paid more to not work discourages employment.
* Republicans won’t put blame on the Fed, because they benefit more from blaming the Democrats.
* Maxine Waters praises Jerome Powell on his irresponsible leadership.
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Transcript
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| 0:00.0 | The Peter Shifch Show. |
| 0:09.1 | Thanks to Literati for supporting the Peter Shifch Show podcast. |
| 0:13.5 | Literati is the subscription book club that makes it easy to get unique and interesting |
| 0:18.3 | books delivered right to your front door. |
| 0:21.6 | You can redeem your free trial at literati.com slash gold. |
| 0:27.7 | Well today is the first podcast that I am recording from Switzerland. |
| 0:34.0 | And early this morning I was able to finally listen on YouTube to the congressional testimony |
| 0:44.4 | of Fed Chair Powell. |
| 0:47.2 | He testified before the House Select Coronavirus Committee. |
| 0:52.5 | It wasn't that long. |
| 0:53.5 | I think the whole testimony including the introduction by Congress and the closing |
| 0:59.3 | remarks. |
| 1:00.3 | The whole thing was maybe about 90 minutes. |
| 1:02.5 | So really only about an hour of direct questioning of Chair Powell. |
| 1:08.9 | But of course he was there to reassure everybody that everything was great. |
| 1:13.7 | The economy was great. |
| 1:15.2 | The recovery was moving along. |
| 1:17.3 | And of course inflation was under control and transitory. |
| 1:22.5 | Well before I actually speak about what happened at the press conference the day after yesterday |
| 1:29.7 | you actually had Atlanta Fed President Bostick. |
| 1:33.8 | He came out and he stated that it looks like the transitory inflation that the Fed was |
| 1:39.8 | talking about. |
... |
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