In remarks on Thursday at the Economic Club in Washington, President Joe Biden said the Fed's rate cut was "an important day," but stopped short of declaring victory.
For one, it does not say “the economy is doing great” so you’re lying when you quote it as saying as such. What it actually says is ‘the economy is improving’, and the Fed lowering interest rates is a strong indicator it is. Biden clearly warns “It doesn’t mean our work is done. Far from it” for those sassy-pants that feel this obvious truth.
[unemployment has] “remained the lowest on average of any administration in 50 years.” Which means while you gripe about how shitty the economy is doing you are statistically more likely to be doing it from a work desk than not, incidentally earning more on average than inflation increased by. So, while the sticker shock of the price of an egg carton may alarm your lizard brain you actually still have the cash to pay for it in your pocket and then some. If you don’t, it’s a you problem and not the government’s fault. That said, Harris still has a plan to help with her corporate price-gouging initiative.
;tldr Article doesn’t actually say “the economy is doing great”, but considering how hard it was hit it is actually recovering remarkably well. The Fed finally starting to lower interest rates is good news for everyone except Donald and his sycophants.
For one, it does not say “the economy is doing great” so you’re lying when you quote it as saying as such. What it actually says is ‘the economy is improving’, and the Fed lowering interest rates is a strong indicator it is. Biden clearly warns “It doesn’t mean our work is done. Far from it” for those sassy-pants that feel this obvious truth.
That said, the economy is doing very well relative to where it was at due to the Covid pandemic that wrecked havoc. “At its peak, as you all know, inflation was 9.1% in the United States. Today it’s much closer to 2% [2.5%],”. A mere 0.5% above the 2% economists target it to hold at for a healthy base economy.
[unemployment has] “remained the lowest on average of any administration in 50 years.” Which means while you gripe about how shitty the economy is doing you are statistically more likely to be doing it from a work desk than not, incidentally earning more on average than inflation increased by. So, while the sticker shock of the price of an egg carton may alarm your lizard brain you actually still have the cash to pay for it in your pocket and then some. If you don’t, it’s a you problem and not the government’s fault. That said, Harris still has a plan to help with her corporate price-gouging initiative.
In the end, the US economy suffered less from the pandemic, and recovered better than most other Western nations. As rough as it has been it could have been a lot worse, so, maybe spend less time on Lemmy pandering to the lowest common denominator and more looking for work if you’re truly salty is in order?
;tldr Article doesn’t actually say “the economy is doing great”, but considering how hard it was hit it is actually recovering remarkably well. The Fed finally starting to lower interest rates is good news for everyone except Donald and his sycophants.