Joe Biden has overseen one of the worst economic disasters in decades.
But now, the Biden Recession could end up turning into a Biden Depression.
And it’s all because Biden’s Federal Reserve chairman just issued one stark warning about a looming economic crash that could change everything.
Joe Biden has presided over one of the worst economic catastrophes in modern American history.
With a collapsing stock market and housing market, and with soaring inflation and a shrinking economy, Biden has resorted to trying to redefine the word “recession” in a desperate bid to pin the blame on anyone but himself.
But now, there are growing signs that the Biden Recession could end up getting much worse.
And now, even left-wing outlets like CNN are admitting that Biden’s economy could end up deteriorating even faster than previously expected.
CNN reports, “In a blunt speech last Friday, Federal Reserve Chairman Jerome Powell warned that the central bank’s battle against inflation won’t come without some casualties.
“The Fed is firmly resolved to bring down inflation and to ‘keep at it until the job is done,’ Powell said. But that plan — which involves a series of hefty interest rate hikes — will bring ‘some pain to households and businesses,’ he acknowledged.”
The fact that Biden’s own Federal Reserve chairman is openly admitting that the economic conditions of the country could end up deteriorating significantly in the coming months is not a great sign.
But it isn’t hard to see why Jerome Powell is opening up about America’s economic reality.
While Biden scrambles to define away the word “recession” and pretend that America is not in one, the rest of the country realizes that the bubble is bursting and the economy is tanking.
What’s more, Biden even went so far as to try and tell Americans recently that there was “zero inflation” after the latest inflation statistics were released for July.
But for hundreds of millions of Americans, a simple trip to the grocery store shows them that inflation is certainly not “zero.”
What’s more, Jerome Powell himself admitted that the economy could crash because the Federal Reserve is trying to combat rising inflation.
This obviously begs the question. If inflation is zero, why is the Federal Reserve admitting that its plan to bring down inflation will bring “some pain to households and businesses”?
Of course, most people know that inflation is not in fact zero, and Powell himself knows that too.
Otherwise, he would not have issued his stark warning about the state of the economy and the Federal Reserve’s plans to try to bring inflation under control.
But while Powell admits that the situation looks bleak, Biden is currently doubling down on choosing to intentionally ignore reality in the hopes that if he pretends nothing is wrong, the American people will believe him.
The problem is, that plan can only work for so long before voters realize that he isn’t up for the job.
And with the midterm elections just around the corner, it’s clear that Biden’s plan is collapsing.