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Recent economic statistics have continued to indicate an economy confronting diminished growth prospects and persistently high inflation. When President Biden took office in January of 2020, the annual Consumer Price Index (CPI) - inflation was 1.4 percent; now, for September, the rate is 8.2 percent. Not only is the Federal Reserve (Fed) having to address its own missteps, it must also address the inflationary pressures stemming from two years of excessive federal government spending. The Fed’s primary error was to maintain an “easy money” policy, which was initiated to reinvigorate the economy after the COVID- induced economic slump. By allowing interest rates to remain artificially low for a protracted period, their policies distorted economic incentives resulting in unsupportable rises in the stock and real estate markets.Read More