Manchin setting up meeting with Powell over inflation

[Yo_Mama_Been_Loggin]

Sen. Joe Manchin (D-W.Va.) said on Wednesday that he is setting up a meeting with Federal Reserve Chairman Jerome Powell to talk about inflation.

Manchin, asked if he was meeting with Powell, said his staff was working to set up a meeting, adding "we've been trying."

"Absolutely," Manchin said, asked if he was wanting to talk with him about inflation. "I want to find out why we're still buying more quantitative easing."

A staffer said that Manchin's meeting with Powell is not set for Wednesday.

https://www.msn.com/en-us/news/politics/manchin-setting-up-meeting-with-powell-over-inflation/ar-AAQOYYo

[rurallib]

1. Manchin looking for anything to cover his ass when he votes "No"

[Beachnutt]

2. tfg appointed republican Powell

hmmmm..

[Probatim]

3. QE wasn't an issue during 4 years of TFG - only when a D is in office.

[mathematic]

4. Huh? The fed only restarted QE for the pandemic

In any event, the fed has already announced its winding down QE starting this month and ending sometime next year. They're doing it gradually because making big changes in monetary policy all at once creates instability.

The fed's response to the pandemic will go down as one of the greatest successes in history of central banking. The world was shut down for a global pandemic and here we are 18 months later and the economy is doing amazingly. Unemployment is low and we're moving towards those historically low levels.

[WHITT]

5. Manchin Has No Clue

what QE is, or how it works.

[Probatim]

8. My point was the under Obama, QE was the worst thing the Fed ever did...

it continued under TFG and no R made a peep. Now under Biden, Manchin is concerned about it.

It's theatrics.

[mathematic]

9. Your point is wrong, then. QE ended during the Obama admin

QE isn't some thing that is always happening. QE ended in 2015. In response to the pandemic in march 2020, the fed started QE again. The only time QE was happening during the trump admin was in response to the pandemic recession, which is the exact type of scenario that QE was invented to address. The only people opposed to QE were Sanders, AOC et al, and perhaps the "end the fed" type conservatives like Rand Paul though I don't follow every crank economic pronouncement from that group.

Here's what the history has borne out:
1. QE was correct last year
2. QE is no longer needed this year
3. QE is in the process of ending

The idea that this is deceptive political theater by Manchin simply isn't supported by the facts.

[abqtommy]

6. snark alert on: Will Manchin and Powell be meeting on Manchin's yacht?

(alert off) Asking for a friend...

[ShazamIam]

7. I guess Manchin needs Powell to tell him the truth, it is price gouging in an effort to stop

an increase to the minimum wage and the fossil fuel sellers price gouging, because they can and the media blames the Biden administration on their behalf.