Editor’s note: This is the last in a two-part series featuring Carol Roth on the challenges faced by small businesses in the post-crisis period. She discusses the terrible decisions made by the Joe Biden administration and the Fed that contributed to spiraling inflation.
Who could have seen inflation coming? Common sense would dictate that injecting more than $4 trillion in fiscal stimulus in one year and a central bank pumping trillions more as part of monetary policy expansion efforts would lead to a consumer price index (CPI) reading of 8.5%. But how did the Swamp get it so wrong in the first place? Officials had access to the same data, economic theory, and latest developments in the world economy as everyone else. And yet, President Joe Biden and Federal Reserve Chair Jerome Powell seem blindsided by 40-year high price inflation. What happened? In an interview with Liberty Nation...
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