Inflation began with Biden’s misguided warfare on US vitality, then Biden/Congress helped inflation with an epic spending splurge. The Federal Reserve counterattacked with Fed fee hikes.
Over the previous yr, The Fed Funds Efficient fee has risen and US financial institution credit score has crashed to 2.73% year-over-year.
Do I detect a pattern?
Since 2005, the crash in US financial institution credit score is trying like 2008/2009 yet again.
Whether or not Biden is Cap’n Crunch or Jerome Powell or Janet Yellen, they’re all crunching the US economic system.