“Has The Federal Reserve Blown It Triggering a Recession” This is Something to Think About 08.05.24
Something to Think About
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“Has The Federal Reserve Blown It Triggering a Recession”
Bill Bunkley’s “This Is Something to Think About Commentary”
Air Date Monday, August 5, 2024
Has Jerome Powell and the Federal Reserve blown it by waiting too long to lower interest rates? The massive sell-off of the stock markets indicates they have.
As America’s middle class and seniors struggle to pay runaway inflation prices for food, housing, and gas, unemployment is now climbing, further pressuring the economy.
The economy has been steadily declining as the Fed’s policy has produced a continuation of high inflation and interest rates, which has also choked the housing market.
Further evidence was Friday’s very unexpected monthly unemployment report.
175,000 jobs new were expected to be added to the economy, but instead, the number was only 114,000, a HUGE miss, raising the unemployment rate up to 4.3% from 4.1%.
The Fed’s job was to give us a soft landing. Unfortunately, they may be giving us a recession.
Only time will tell.
Bill Bunkley is an 18-year veteran Salem Media talk show host based in Tampa. The Bill Bunkley Show airs weekdays across central Florida from 3 to 6 pm. Bill is also President of the Florida Ethics & Religious Liberty Commission, which serves as the legislative consultant to the Florida Baptist State Convention (Southern Baptist Convention Churches), among other churches and entities. He has served as the legislative consultant to the Florida Baptist State Convention for the last 28 years at the state capitol in Tallahassee. By the Grace of his Lord Jesus, he is today a cancer survivor diagnosed in 2018 with AML Leukemia, having successfully undergone a bone marrow transplant that same year. His wife is Toni, son is Zac, and they attend Idlewild Baptist Church.
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