Inflation started with Biden’s misguided war on US energy, then Biden/Congress helped inflation with epic spending spree. The Federal Reserve counterattacked with Fed rate hikes.
Over the past year, the effective federal funds rate has risen and US bank lending has collapsed to 2.73% year-over-year.
Am I detecting a trend?
Since 2005, the US bank credit crash has once again resembled 2008/2009.
Whether Biden is Cap’n Crunch or Jerome Powell or Janet Yellen, they are all crushing the US economy.