“Powell Facing Choice Between Elevated US Inflation and Recession”
June 13, 2022
“Federal Reserve Chair Jerome Powell is facing an increasingly grim calculus after yet another hot inflation reading last week: He probably has to push the economy into recession in order to regain control of prices…
An increasing number of economists — including ex Fed Vice Chair Blinder — say it may take an economic contraction and higher unemployment to bring inflation down to more tolerable levels, much less back to the Fed’s 2% price target…”
https://finance.yahoo.com/news/powell-facing-choice-between-elevated-170000081.html
They are telling you that banks can start and end recessions whenever they please. If they have the power to make an economy bad they also have the power to make it good. Remember that. Funny how they are never “forced” to create a economic boom.