Federal Reserve Warns Joe Biden Policies are Weakening US Economy

The Federal Reserve panel sent a warning about the U.S. economy starting to suffer as the JoeBama administration starts to institute “America Last” policies.  The financial media will not directly point to the Biden policy agenda as the primary source of the issue, but the background context of a new administration is exactly the difference.

Even during the worst aspects of the 2020 COVID-19 impact during the Donald Trump administration, the underpinning of the U.S. economy remained strong.  However, now that JoeBama has taken office the 2021 COVID-19 impact is being used as an excuse.

WASHINGTON DC – The Federal Reserve on Wednesday struck a more somber tone about the U.S. economy, saying the recovery is weakening as the country waits for widespread vaccinations against the coronavirus.

“The pace of the recovery in economic activity and employment has moderated in recent months, with weakness concentrated in the sectors most adversely affected by the pandemic,” the Fed’s rate-setting committee said in its post-meeting statement. That contrasts with its observation last month that the economy had “continued to recover.”  (read more)