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IPFS News Link • Federal Reserve

The Fed's Inflation Is Behind The Supply Chain Mess

• https://www.zerohedge.com, by Tyler Durden

Here's the administration's talking point:

the US economy is rolling along so well that Americans are demanding huge amounts of goods.

That's overwhelming the supply chain and causing the backups roiling America's ports and logistic infrastructure.

For example, transportation secretary Buttigieg this month declared "Demand is up … because income is up, because the president has successfully guided this economy out of the teeth of a terrifying recession."

Similarly, White House spokeswoman Jen Psaki told reporters supply chain problems are occurring because "people have more money … their wages are up … we've seen an economic recovery that is underway."

This position has been mocked by a number of conservative politicians—including Senator Ted Cruz—and commentators, who find this to be an absurd assumption. Indeed, Cruz and other critics could point to a variety of factors ranging from the weight of government regulations to the problem of covid lockdowns limiting the productivity of supply-chain workers.


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