Hey Fed Chairman: You have ONE JOB!
You know who’s supposed to stop inflation?
This Guy
That’s Jerome Powell ..the Chairman of the Federal Reserve. It’s his job to set interest rates…. and thereby… control whether the economy overheats. Too hot? You get Inflation. Everything costs too much.
Two percent inflation sounds pretty good from here. We’re at 6-point-7 percent in the mountain west. Down… from 9… but my basic math skills tell me we have a long way to go.
So do you think he’ll succeed? Dude has one job. Inflation. Whwait. He has two jobs. The other one is the complete renovation of the Fed’s headquarters building in Washington. Interesting Face… It’s called the Eccles building… named for the only Fed chairman from Utah… Marriner Eccles.
It’ was built in 1937… and it’s long needed a refresh. So the Fed is installing marble and brass while we all choke on the price of wood. When they got started in 2019… the estimate cost of the renovation was 1-point-9 billion dollars. But now… they’re dealing with cost overruns and the estimate’s gone up to 2-and-a-half billion. An extra 34 percent… That’s an additional 600 million in taxpayer money … because of the inflation that the Fed is supposed to predict in the first place.
This does not instill confidence ….that Mr Powell’s gonna get us down to 2-percent.