With less than 3 weeks to go now until the midterms, the economy and inflation continue to be the top issue with voters. So much so, that even some Democrats are joining in, fed up with The Fed for not doing enough to slow this record high inflation.
"You had a Fed that was very late to battle inflation" said Richard Rosso, Houston based financial planner and expert, "They stayed complacent, they continued calling inflation 'transitory', and now they think that they're going to get to their magical number 2% target within a couple of years."
Something that is not realistic, at least not with this current administration.
"It's going to be a tough challenge" Rosso told KTRH, "We really haven't seen inflation budge at this point. With the energy issues we have, mostly our own, the stuff that you need to put on your table and keep a roof over your head, that inflation is going to stick around a lot longer, which means the Fed's going to have to inflict more damage."
And when that happens, especially with the damage that Republicans are expected to unleash in the midterms, we can expect the Democrats to use The Fed as a scapegoat, for what experts warn is going to be a rough 2023 for our economy.
"The dirty little secret" noted Rosso, "Is, the Fed is not going to say anything to the executive branch and congress, like y'all have to stop doing what you're doing on your side, otherwise what we're doing is not going to work."
Think of it as a Democrat version of good cop, bad cop. The Fed is good for trying by raising rates, while Biden and the Dems are bad for their reckless spending. The loser? That would be all of us.
That leads us into today's poll question.