Fed Report Indicates a Future of Sluggish Economic Growth for the United States
Jose Nino
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Per a recent report published by the Federal Reserve, the US economy’s future economic growth prospects appear to be bleak as inflation appears to not be subsiding and the costs of basic necessities continue rising.
The Fed Bank of San Francisco published a report on September 14, 2022, where it observed that the US economy finds itself somewhere between “slight to modest” growth and is likely going in a “a generally weak” direction for about 6 to 12 months.
“The outlook for future economic growth remained generally weak, with contacts noting expectations for further softening of demand over the next six to twelve months,” the Fed stated in its recently published Beige Book report.
According to a report by Press TV, “Inflation has been running at 40-year highs and more than three times the Fed’s target.”
Since March, the Fed has raised interest rates by 225 basis points in efforts to tame the nation’s growing inflation rate.
Some pundits believe that if the Fed pursues harder forms of contractionary monetary policy, the US could potentially face a recession.
The Fed’s monetary policies are ultimately culpable for the current economic predicament the US finds itself in. Combine that with a massive regulatory state, and you have all the makings for a stagnant economy.
The solution lies in an America First domestic economic policy agenda that consists of downsizing the regulatory state, phasing out the Federal Reserve, and replacing all forms of federal taxation with a simple, non-intrusive tariff system.
The current Republican approach of marginal tax cuts for mega-corporations that hate Middle America has to go. Wholesale overhauls of economic policy are needed to get America’s economic house in order.
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