{"id":1648469,"date":"2022-09-20T08:06:50","date_gmt":"2022-09-20T12:06:50","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1648469"},"modified":"2022-09-20T08:07:00","modified_gmt":"2022-09-20T12:07:00","slug":"steve-forbes-criticizes-fed-for-making-people-poorer-insists-america-is-in-recession","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/steve-forbes-criticizes-fed-for-making-people-poorer-insists-america-is-in-recession\/","title":{"rendered":"Steve Forbes Criticizes Fed for \u2018Making People Poorer,\u2019 Insists America Is in Recession"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsteve-forbes-criticizes-fed-for-making-people-poorer-insists-america-is-in-recession%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1648469&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Steve Forbes, chairman and editor-in-chief of Forbes magazine, told Fox Business Network that President Joe Biden will get blowback for his \u201chappy talk\u201d on inflation, insisted America in a <a href=\"https:\/\/www.theepochtimes.com\/t-recession\">recession<\/a> even if the downturn isn\u2019t yet official, and blasted the <a href=\"https:\/\/www.theepochtimes.com\/t-federal-reserve\">Federal Reserve<\/a> for hiking interest rates too aggressively and \u201cmaking people poorer.\u201d<\/p>\n<p>Program host Stuart Varney kicked off the segment by expressing reservation about Biden\u2019s <a href=\"https:\/\/www.theepochtimes.com\/biden-says-inflation-rose-hardly-at-all-as-americans-grapple-with-soaring-prices_4739839.html\">remarks in an interview<\/a> on CBS\u2019 \u201c60 Minutes\u201d in which the president said that the monthly inflation rate was so low as to be basically negligible and that price pressure would continue to ease going forward.<\/p>\n<p>Varney said he disagreed and predicted a \u201cvery difficult inflationary winter,\u201d before asking Forbes to weigh in.<\/p>\n<p>Forbes took a sympathetic view on that forecast, saying that \u201cwe\u2019re going to have a hard winter and the Europeans are going to have it even worse.\u201d<\/p>\n<p> Biden\u2019s \u2018Happy Talk\u2019 on Inflation <\/p>\n<p>Further addressing Biden\u2019s remarks, Forbes said the president \u201coverlooked\u201d that inflation rising at 0.1 percent month-over-month pace in August\u2014which Biden\u00a0characterized as having inched up \u201chardly at all\u201d\u2014was higher than analysts expected and so was \u201cdisappointing\u201d to markets.<\/p>\n<p>\u201cThis happy talk is going to hit him back hard,\u201d Forbes said of Biden, adding that the president is \u201cdoing all he can to make it impossible to recover from the inflation that comes from disrupting supply chains\u201d with his anti-fossil fuel policies that will put energy prices up.<\/p>\n<p>Forbes then predicted that the Federal Reserve would continue to hike interest rates and push the country deeper into a recession.<\/p>\n<p>\u201cThat\u2019s the only way they know how to get down prices\u2014it\u2019s by depressing the economy,\u201d he said. \u201cNot the right way to do it and we\u2019re all going to pay the price.\u201d<\/p>\n<p> \u2018Making People Poorer\u2019 <\/p>\n<p>The Fed will raise its benchmark interest rate by<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Steve Forbes, chairman and editor-in-chief of Forbes magazine, told Fox Business Network that President Joe Biden will get blowback for his \u201chappy talk\u201d on inflation, insisted America in a recession even if the downturn isn\u2019t yet official, and blasted the Federal Reserve for hiking interest rates too aggressively and \u201cmaking people poorer.\u201d Program host Stuart [\u2026]<\/p>\n","protected":false},"author":118,"featured_media":1894813,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1648469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.theepochtimes.com\/steve-forbes-criticizes-fed-for-making-people-poorer-insists-america-is-in-recession_4742005.html","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1648469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/118"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1648469"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1648469\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1894813"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1648469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1648469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1648469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}