BREAKING: Fed Issues Third 75-Basis-Point Hike; Warns Recession May Be Coming

[mirage98de]

Originally Posted by Loveshiscountry

So when Trump was inflating the money supply with his handouts and increased spending it didn't matter much? When the interest rates were artificially low under Trump, it didn't matter much? Trumps polices brought us to the door, Bidens broke it down.

Where in the world were the conservatives back then?

10000000000% right here

And I voted for orange man.

[Mircea]

Originally Posted by RowingFiend

Biden and the Democrats are total failures at economic policy. The Fed is, too, because the rates should have been advanced earlier and higher if they were serious about stopping inflation.

Raising interest rates only works when you have Monetary Inflation and you don't.

What you are experiencing is Demand-pull Inflation and Cost-push Inflation and neither the Federal Reserve nor your government can do anything about it.

Demand-pull Inflation occurs when Demand far exceeds the available Supply of any good, service, commodity, or resource.

Cost-push Inflation happens when costs increase whether cost increases are caused by taxes, statutes, rules, regulations, or Demand-pull Inflation.

Russia has the champagne of oils and you have the Mad Dog 20/20 of oils. Your oil sucks. It's useless except for petro-chemical products.

You had a severe shortage of the oils (plural) you need for fuels but Demand did not change and so fuel prices blew through the roof. The increased costs of diesel fuel was passed onto you the Consumer in the form of higher prices for goods. That's Cost-push Inflation.

These are your finished gasoline exports so far for 2022:

Jan 24,999,000 barrels (104,958,000 gallons of gasoline)
Feb 22,369,000 barrels (939,498,000 gallons of gasoline)
Mar 26,785,000 barrels (1,124,970,000 gallons of gasoline)
Apr 26,027,000 barrels (1,093,134,000 gallons of gasoline)
May 27,285,000 barrels (1,145,970,000 gallons of gasoline)
Jun 25,388,000 barrels (1,066,296,000 gallons of gasoline)

Why are you exporting gasoline when prices are $5/gallon?

Um, I just told you why.

Russia has the champagne of oils and you have the Mad Dog 20/20 of oils.

Your oils are useless.

Your oils are high Sulfur and to get the Sulfur out means you'd pay $5-$6/gallon but seeing how you've all thrown a tempter tantrum at paying $5/gallon I'm guessing you don't wanna pay $5/gallon.

Increasing interest rates is not gonna lower the Sulfur content of your sucky oils and it will not decrease the Demand for fuels or alleviate the shortage.