Though job growth continued last month, some observers think inflation is the real story.
In the midst of growing economic fears, the U.S. added 428,000 jobs in April. But it is unclear how long the boom will continue, as the Federal Reserve recently raised its key rate by a half-percentage point — its most aggressive move since 2000 — and signaled further large rate hikes to come. Meanwhile, Yahoo! reports that global food prices are holding near a record high as crop trade has exacerbated tight supplies and stoked inflation.
With the Federal Reserve raising interest rates and gross domestic product (GDP) shrinking, Alfredo Ortiz, president and CEO of Job Creators Network (JCN), warns that the worst inflation in four decades will eventually turn into “stagflation.”
Stagflation or recession-inflation is a situation in which the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high. It presents a dilemma for economic policy, since actions intended to lower inflation may exacerbate unemployment.
“Small businesses are bearing the brunt of this economic mess, caused by President Biden’s record spending spree,” Ortiz submits.
Former Goldman Sachs executive, Trump advisor, and TV personality Larry Kudlow is also concerned about inflation.
“If you prevent a recession, you need to prevent inflation,” Kudlow recently told the “Fox & Friends” program. “Price stability is the cornerstone to economic prosperity and growth.”
Ortiz does not think the Biden administration is doing enough to combat inflation or supply chain problems.
“According to the latest JCN Foundation Small Business IQ Poll, nearly 70% of small business owners think the Biden administration isn’t doing enough,” Ortiz cites. “Eight in ten small business owners – including 77% of Democrat small business owners – support increasing domestic oil and gas production as a practical way to help tame inflation, but the administration refuses to do so.”
He believes there is a better way.
“JCN’s seven-figure Great Opportunity Project is promoting the success of state-based free-market policies in contrast to the destructive policies coming out of Washington,” Ortiz notes.
Copyright American Family News. Reprinted with permission.
Until the Biden administration mentally deranged environMENTALists admit that the price of cheap energy and fuel is the main source of this inflation, our economy and this administration will continue to do disservice to THE PEOPLE, while servicing the needs of the energy-based war making Russian economy, and the needs of the war making terrorist led middle east nations who are our sworn enemies. The last time inflation went this berserk was back in the days of Jimmy carter who also was being held hostage by the middle east oil cartel creation, with the Iranians playing him like a fiddle. Investigations will reveal how the traitorous Biden Crime family sold America out costing THE PEOPLE trillions while they raked in millions and got rich, by perpetrating the environmental lies. Get rid of the Bidens, get rid of the Democrats and place replace national security over faux environMENTAL concerns concocted by our national enemies to disempower our people and are economy,,,who have basically purchased many of our political leaders who get rich while THE PEOPLE pay the price,,,,Problem solved.
Why do they keep calling it ‘job growth’, WHEN MOST of the “new jobs”, are really OLD ONES From before the vid lockdowns coming back!
I don’t know what this “job growth” is being based upon because I keep hearing that there are millions of unfilled jobs and that employers are having a hard time finding people to fill them. At the same time, there is supposedly a large number of unemployed people who could fill these positions.
Democrats have a notorious record of being bad at economics. John Kennedy has been the only I recall who understood lower tax rates increased revenue because money moving around creates money and wealth to be taxed, stagnant money does nothing. Jimmy Carter decided a luxury tax on yachts would get the rich, the rich out off buying and instead refubished or went elsewhere, most of the boat builders on the East coast went out of business and never recovered. They then roll out the nut about ‘fair share’ for people who are already footing most of the bills in the first place while others pay nothing or get refunds! They have used models that have never worked and combined with the socialist bent of the radicals it is doubtful that things will improve.
AND WHO the hell are they, to decide what is and isn’t a “Fair share”??
job creation under democrats = propaganda numbers.
I just paid 4.19 dollars a book on for gas. Biden cuts off production of oil. Then he doesn’t understand Inflation.