The economy is in recession now. Huge brand name businesses are declaring bankruptcies. The entire airline industry is surviving on a shoestring. There is a hike-up of groceries only because people were freaking hoarding. Once this covid blows over, ppl are going to have tons of leftovers once production comes back up. Oil is at all-time low cuz nobody is flying. I mean the oil futures went into -ve in April for chrissake. People are losing their jobs. I doubt they will be looking to buy houses unless those mortgage brokers are committing mortgage fraud again. The inflation should be the least of the worries now. It's how to get the economy back onto its feet that's the priority right now.
And before Covid, much of the inflation that we saw, were imported inflations like the ones in the housing market. It's because of those freaking foreign buyers. We are so poor now, comparing to other countries in the world where the real estate was skyrocketing so they all flock to the USA bidding up our properties where are comparatively cheap with cash. So for that, the best antidote to that is not really monetary policy but really regulations and laws.
the grandma is kinda a nerd. That position requires someone who has some sort of negotiation skill like Steve Mnuchin, Henry Paulson, Tim Geithner, James Baker to make deals with congressional leaders on budgets, spending, stimulus, our Overnight could be qualified for the position or else the skill he's gained from years of watching CNBC would be wasted.
You must have been in a parallel version of the USA. In the US I know, farmers came on tractors and blockaded the building of the Federal Reserve because the rates were too high.
You must have not financed or borrowed in the early 1980’s because there was a global recession, skyrocketing gasoline prices, double digit inflation, and the home mortgage rate made a historic high of 18.45% in the US. There was a US Savings & Loan Crisis and a Latin American Debt crisis. Everybody was defaulting on debt. Interest Rates were such a dominating factor for personal lives, families, and businesses that a couple of small agricultural exchanges in Chicago rolled out interest rate futures contracts and forever transformed themselves and the financial industry.
I mean the political pressure on the Fed. What would happen if Paul Volcker situation were to happen now? Trump would fire him on the spot.