Same policy different president

Crossville TN

Description

Continuing inflation that has gone on throughout 2021 without signs of slowing down has led to concerns that the United States could see a repeat of what happened in the 1970s under President Carter. Under Carter, the U.S. experienced inflation and unemployment that were both in the "double digits" as a result of an oil price shock that began when Iranian oil workers went on strike. (USE AMERICAN ENERGY, STOP PUTING US AT RISK TO OUR ENEMIES). Back then, inflation rose by an average of more than 11% in 1979 and nearly 14% in 1980. Former Obama administration economic adviser Larry Summers is a notable critic of Yellen’s stance, asserting last month that he felt there was a "less than a 50/50 chance" that she was correct about inflation declining by next year. (JUST LIKE "TRANSETORY LIE" THAT WENT ON FOR 6 MONTHS, THEN RUSSIA IS TO BLAME, ETC). On Tuesday, Yellen downplayed concerns that inflation could spike to levels seen during the 1970s, asserting that the Federal Reserve would act before a surge of that magnitude could occur. The Fed took drastic measures to curb inflation then, raising interest rates to 20%. Jimmy Carter 2.0