The International Monetary Fund (IMF) released a staff report last week, advising the Federal Reserve to wait to cut interest rates and instead suggests that the government raises taxes to combat the out-of-control federal debt.
The globalist-backed report mirrors the Biden Regime’s economic narrative, recommending that the FED hold the line until interest rates dip back down to their set target of 2%. As expected, there is no mention of the destructive policy – the open border, billions in foreign aid, overspending, etc. – and completely ignores the catalyst for the entire mess: the COVID lockdowns.
“Directors commended the authorities for their commitment to price stability and successful disinflation. Nevertheless, given salient upside risks to inflation and strong performance of the economy, they noted that the Federal Reserve should not reduce its policy rate until there is clearer evidence that inflation is sustainably returning to its 2 percent target. Clear communication, including forward guidance, will help guide market expectations in line with the Fed’s intended policy path,” the document stated.
The report claims that the increase in public debt poses a risk to the US and global economy and also expresses a pressing need for a “frontloaded fiscal adjustment” that could be achieved by generating “revenue” – In layman’s terms, they want the Biden Regime to put those 80,000+ IRS agents to work, and tax the hell out of the citizenry… After all, someone has to take care of the $34 TRILLION+ in debt that is skyrocketing daily, because, as we have seen, it won’t be done via government spending cuts. […]
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