[ThinkBeat]

The traditional way a central bank fights inflation, and take Norway as an example.

The central bank raises interest rates, until there are enough bankrupcies and unemployment rate reaches a high enough level, The economy cools down.

The nation has low inflation again.

Rinse out and repeat.

They do the direct opposite of bailing anyone out.

Now the US is different. The Biden administration decided that the best way to fight inflation was to invent a giant pile og money and hand it out.

Which heats up the economy and should raise inflation .

[TimorousBestie]

> Now the US is different. The Biden administration decided that the best way to fight inflation was to invent a giant pile og money and hand it out.

Biden did not invent quantitative easing.

[smileysteve]

Indeed, it was expanded greatly during the admins of Bush and Trump.

[arunabha]

> The Biden administration decided that the best way to fight inflation was to invent a giant pile og money and hand it out

Can you provide some references for your claim? IIRC, under Biden, inflation was stoked by the Covid stimulus(arguably necessary to avoid rapid deflation due to Covid, but probably kept for too long) and the Fed moved pretty decisively in the second half of the Biden presidency to raise interest rates rapidly to combat inflation. FWIW, the inflation issue seemed to be under control and heading in the right direction before the administration changed.

[ThinkBeat]

Ever hear about: Inflation Reduction Act¹

It authorised $891 billion in total spending – including $783 billion on energy and climate change, and three years of Affordable Care Act subsidies

in order to...... Reduce Inflation.

https://en.wikipedia.org/wiki/Inflation_Reduction_Act

[dgfitz]

> IIRC, under Biden, inflation was stoked by the Covid stimulus(arguably necessary to avoid rapid deflation due to Covid, but probably kept for too long)

I think you answered your own question.

[walls]

Do you know who was president in March 2020, when that happened? I'll give you a hint: he put his own name on the checks.

[TimorousBestie]

Regrettably, everyone more or less memory-holed this. Biden is held responsible for all the bad things that happened because of COVID, and Trump escapes any blame whatsoever despite, yknow, advocating for bleach injections or whatever that was.

[elevation]

> “you’re going to have to use medical doctors but it’d be interesting to check that” [0]

[0] https://m.youtube.com/watch?v=zicGxU5MfwE

[TimorousBestie]

Man, I forgot that he almost used to sound lucid every once in a while, in those days.

[dgfitz]

The quote I quoted said, quite literally, “under Biden” I offered no new information

[serioussecurity]

I'm sorry you're blaming the Biden admin for a bush era policy why?