Ruhle Excuses Biden Policies, Blames Media Talking US Into Recession

On Wednesday’s The 11th HourStephanie Ruhle, MSNBC’s business correspondent, demonstrated once more that she doesn’t know much about basic business or economics in her conversation with David Gura on NPR Business. Ruhle claimed, despite Americans suffering from crushing inflationary pressures and saying that it was the Biden Administration who is leading the United States to a recession, and that Ruhle and others with political agendas have enabled businesses to make use of the inflation chatter to increase prices. 

Ruhle admitted that there was a forty-year-high inflation rate, but she said it tacitly because the world was experiencing a pandemic. 

Ruhle tried to blame the Federal Reserve chair, who was charged with raising interest rates to cool and stabilize the economy. 

However, the Fed is unable to control political hypes or media agendas. We’re inducing inflation into our heads. It’s easy to forget why every business raises its prices when you keep talking about it all day. Because they can. Cause no one’s going to argue, why are you raising that price? Inflation, inflation, inflation. Every restaurant, I can’t get enough workers, and they’re not acknowledging because of COVID and outside seating — they have now doubled the amount of customers they serve every day. We are making people fearful for the coming recession in much the same way we panic about it. Doesn’t this add to many of these problems? And that’s something that Jay Powell can’t touch!

As the business correspondent of state-run propaganda outlet NPR, Gura predictably agreed with Ruhle’s delusional and economically illiterate commentary. “This is such a crucial point. And I remember a few months back talking with Wall Street analysts just about this increasing bearishness that you are seeing on Wall Street, and how contagious that is,” Gura noted. 

Gura added that “there becomes a sense that this could be somewhat self-fulfilling if there is a fear leading to actions that could sort of kickstart or accelerate a recession. I think it’s something definitely to watch in the weeks to come.” 

Ruhle then jumped in to claim her audience who she just whipped up into a panic, by explaining “a recession does not mean the great depression, they happen, they happen every few years. Sometimes for a long period, time sometimes for a short period of time, it is a normal part of our economic cycle.”

That is comforting to Americans who will lose their jobs if there is a recession to know that it could last for a “short period of time.” 

Walgreens made this economically unaware segment possible. This link provides their information. 

To read the relevant transcript of this segment, click “expand”:

MSNBC’s The 11th Hour
6/22/2022
Eastern at 11:52.24

STEPHANIE ROHLE: The Fed is unable to control the media hype and political agendas. We’re inducing inflation into our heads. It’s easy to forget why every business raises its prices when you keep talking about it all day. Because they can. Cause no one’s going to argue, why are you raising that price? Inflation, inflation, inflation. Every restaurant, I can’t get enough workers, and they’re not acknowledging because of COVID and outside seating — they have now doubled the amount of customers they serve every day. We are making people fearful for the coming recession in much the same way we panic about it. Doesn’t this add to many of these problems? And that’s something that Jay Powell can’t touch! 

DAVID GURA, NPR BUSINESS CORRESPONDENT: It is so crucial. And I remember a few months back talking with Wall Street analysts just about this increasing bearishness that you are seeing on Wall Street, and how contagious that is, I think this is a real problem when you see it with a number of companies who are announcing layoffs, JP Morgan announced they’re going to lay off about a thousand people who kind of work on the housing and mortgage side of things today. If there’s fear, this can lead to acts that might accelerate or start a recession. Steph, this is definitely something you should be watching in the coming weeks. 

RUHLE It can be for long periods of time or for short times. This is part of the economic cycle.