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Powell testifies before the Official coffee cup st patty’s T-shirt But I will love this House Oversight And Government Reform Committee hearings on oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response, on Capitol Hill in Washington, DC, September 30, 2021. (Photo by Al Drago / various sources / AFP) (Photo by AL DRAGO/AFP via Getty Images) (Photo by AL DRAGO/AFP via Getty Images) [VIDEO] JEROME POWELL: Today, the FOMC raised our policy interest rate by a half percentage point. We continue to anticipate that ongoing increases will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive, to return inflation to 2% over time. Despite the slowdown in growth, the labor market remains extremely tight, with the unemployment rate near a 50-year low. Job vacancy is still very high and wage growth elevated. Job gains have been robust. Ooh. Every word of that a lie. The justification is a lie. And in fact, as Powell well knows, there are 7 million American men of working age who are not working. They’re watching the Internet all day. So why are they lying to us about this? Well, the effects are very obvious. Go try and take out a car loan or a home loan or any kind of loan. Or if you have a loan, it’s got an adjustable rate, watch how much more you’re paying per month. So why are they doing this? Well, the administration wants Powell to raise rates because they think it’ll offset the inflation that Joe Biden’s policies have caused.

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