Wednesday night at Fox News Channel The Ingraham Angle, former White House economist Kevin Hassett tore apart the Federal Reserve for hiking interest rates while gaslighting Americans on the economy.
CNBC reported that in an apparent desperate effort to reduce inflation, the Fed raised interest rates by more than 20% in just 20 years.
Ingraham herself slammed Federal Reserve chairman Jerome Powell for having suggested the economy was “all roses and sunshine.”
“The economy is, um, is doing, doing fairly well. Um, it’s uh, we expect growth to be, to be solid this year.” Powell doubled down, “It’s a strong economy, and nothing about it suggests that it’s, that it’s close to or vulnerable to a recession.”
According to Celebrity Net Worth, it is easy to imagine a guy who has a net worth in excess of $50,000,000.
Former chair of the Council of Economic Advisors, Kevin Hassett, pushed back on Powell’s Soviet-like propaganda efforts on Ingraham’s show. Hassett said that “we’re probably in a recession already. Uh, and to put that in perspective, I looked back all the way to the second World War, and 94 percent of the time if you had a decline in GDP that large, you were about to have a recession or already in recession — 94 percent of the time,” Hassett emphasized.
Hasset’s mention of a “decline” in Gross Domestic Product (GDP) was a reference to a recent government report. In the first quarter of 2018, GDP fell by shockingly 1.4 percent, which totally contradicts the estimates of economists who incorrectly predicted a 1 percent rise in GDP.
Forbes, a business magazine, interpreted this news as really dire for ordinary Americans. “We’re officially here. The growth rate is negative, and the inflation rate is 9.9%. It’s 1974 all over again.” The April 29 story was headlined, “Hi, Stagflation.”
Ingraham agreed with Hasset’s assessment of the economy, saying, “Interest rates are going up, cars, houses. It’s going to affect us across the board.”
But Ingraham didn’t stop there. Janet Yellen, Treasury secretary was her next target. Yellen ridiculously called the labor market a “huge success” in a May 4 interview with The Wall Street Journal.
In yet another edition of “Rich Elitists Give Hot Takes on the Economy,” Yellen has a net worth of $16 million, according to Celebrity Net Worth.
Hasset punctured Yellen’s absurd claims of a strong labor market. “The thing that [Yellen’s] hiding” was the full number of unemployed Americans. “There were so many people that left the labor force during COVID,” Hasset said, but those people still aren’t counted as unemployed by government officials unless they’re actively looking for work. “The percentage of Americans that actually have jobs is way below where it was before COVID. [It] hasn’t recovered at all.”
Conservatives under attackCall ABC News (818) 460-7777, CBS News (212 975-3243), and NBC News (212 664 64192 to demand that the Fed be called out for blaming Americans on the economy.
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