Biden's America Last Program

[GURPS]

Our National Ritual Humiliation continued this week. First it was trans strippers on the White House lawn. And now, this.

The Hill ran a lackluster headline yesterday:



The Hill’s article is so light on facts that you’d be forgiven for even thinking anything unusual happened at all, beyond some recreational drug addict’s lost stash being found “near” the White House, with Secret Service agents overreacting and “briefly” clearing the Residence in an abundance of caution.

Compare and contrast the Hill’s delicate, whitewashed headline with this much better and more informative one, from the UK’s Daily Mail:



Haha! The “highest” office! I’m glad to be independent from them, but I have deep affection and admiration for our British cousins, especially for their dry wit.

In case you missed it, on Sunday night, an unidentified person found a plasticine envelope containing a fine white powder in the White House. The Secret Service promptly and properly cleared the building and brought in Hazmat, in what turned out to be an unnecessary and humiliating evacuation of the Nation’s Most Iconic Building and Seat of Power, since the white power was actually just somebody’s leftover cocaine stash.

Somebody who has SO MUCH cocaine they didn’t even notice they left their spare inventory behind.

Left behind IN THE WHITE HOUSE. Where Hunter had just recently been avoiding process service, I mean residing, for the prior two weeks, before leaving Friday for Camp David with his enabler, I mean father, I mean the former Vice President.

Unlike the Hill, which misinformed its readers that the cocaine was found “near” the White House, suggesting somebody threw it over the fence or something, the Daily Mail included a very helpful infographic, pinpointing exactly where the abandoned party supplies were found, right on the Residence’s ground floor, in a non-public area right where Hunter likes to “work” on his laptop. (Well. Hunter “works,” if downloading Romanian upskirt videos counts. It does take SOME effort, after all.)



You can imagine the hilarity that must have ensued when the Biden arrived at Camp David. “Now, where did I leave my … dang it … I know it was around here somewhere. Daaad!” It was a real-life game of Clue: Hunter Biden WITH the Cocaine IN the Library.

Anyway, all reports assure that a crack squad of highly-motivated political spin-experts, sorry, I mean “the authorities,” are presently tracking down where the illegal drugs came from. Drugs that, if connected to him, could potentially violate Hunter’s new pretrial diversion agreement, plea deal, and probation even before they ever got started.

In other words, don’t hold your breath to find out.

Sarcastic punters online helpfully pointed out that the White House library is under 24x7 video surveillance, so it should be super easy to figure out who done it, easy that is unless there is another Jeffrey Epstein-style camera failure or something. You never know. These things aren’t perfect.



https://whitehouse.gov1.info/webcam/library

Finally, I’m not even going to pointlessly observe how differently corporate media would be reporting this story if it were a Trump Administration in the Residence instead of a Biden Administration.

And you guys thought I was joking whenever I called Ukraine the deep state’s crack house. I can’t wait to find out what’s next.

☕️ LONG VAX ☙ Wednesday, July 5, 2023 ☙ C&C NEWS 🦠

Bonus roundup: White House's cocaine problem; major pro-freedom decision; link between jabs and relentlessly debilitating syndromes; great news on summer movies, and more.

www.coffeeandcovid.com

 

[GURPS]

Inside the negative equity timebomb: US homeowners lost $108.4 BILLION in equity this year - leaving more than 200,000 at risk of going 'underwater' if property prices fall another 5%​

• Average US homeowner saw home equity drop of $5,400 in first quarter of 2023
• Realtors say they are now seeing more homeowners in negative equity
• It comes after mortgage rates reached an eight-month high of 6.81 percent

 

[GURPS]

Federal debt explodes by $1 trillion in five weeks since deal suspending limit became law​

What happened to ' Bidenomics ' Savings

 

[GURPS]

Wall of waste: Biden cancels Trump barrier but quietly fills in half the gaps​

The move, not publicized with pictures and press conferences, is a pivot by the White House from its knee-jerk reaction of stopping wall construction on Biden's first day in office that wasted billions of congressional funding and materials for the wall.

Dozens of gaps have been filled across Arizona, California, New Mexico, and Texas, where more than 450 miles of 18- and 30-foot slatted steel wall was installed by former President Donald Trump. But despite such efforts, much of the 2,000-mile boundary is wide open.

"To date, DHS has authorized the completion of multiple life, safety, environmental and other remediation activities which include, among other activities, the closure of 129 gates and gaps across the Southwest Border. Of the 129 approved gates and gaps, 68 have been completed to date with an additional 50 anticipated for completion by September 30, 2023," CBP said. "The remaining 11 are anticipated to be completed in Fiscal Year (FY) 2024."

The Biden White House had immediately halted all wall construction on day one to determine if any remaining construction was necessary. In studies it conducted in 2021 and 2022, it determined 129 gaps should be filled and a slew of environmental concerns, such as runoff, should be addressed. But the building was slow to start.

"There never was any legitimate justification for waiting nearly 2 1/2 years to get around to doing construction that should have never stopped and that should have been completed by now," said Ken Oliver, director of Right on Immigration at the conservative think tank Texas Public Policy Foundation. "It was a highly irresponsible and unlawful action by the Biden administration to halt construction of duly appropriated border wall funding in the first place."

 

[GURPS]

Nation Declines as Government Spending, Inflation Grow; Incomes Fall​

Using statistics from the Department of Labor, The Wall Street Journal reports that real hourly wages during the Biden presidency have declined.

When Joe Biden took office in January 2021, the average hourly wage adjusted for inflation was $11.39. Now, 29 months later, it stands at $11.03, a 3.16% decline.

Stephen Moore of the Committee to Unleash Prosperity reports that the latest jobs report from the Bureau of Labor Statistics says that in the month of June, the largest growth in employment in the U.S. economy came from government.

Government’s net increase in employment in June was 60,000 workers, almost 20,000 more than the second-highest increase in the health care sector.

 

[GURPS]

However, EPA limits could force millions of homeowners or child care facilities to inspect for lead dust and pay for cleaning, according to Michal Freedhoff, assistant administrator for the EPA’s Office of Chemical Safety and Pollution Prevention.

“It dramatically increases the number of facilities that could be required to inspect and remediate lead paint hazards,” Ms. Freedhoff told The New York Times about the proposed rule change.

An estimate published by The Washington Post states that possibly millions of U.S. homes, schools, and businesses may have to essentially eliminate lead dust under the EPA plan. Home improvement website Angi estimates that lead removal services can cost $8 to $17 per square foot, with a total range of $1,445 to $5,412 depending on the house, square footage, and other factors.

“A lead paint removal job runs around $3,400, but you could pay as little as $100 or as much as $20,000, depending on the extent of the work,” an article posted to the website reads. “If you discover lead paint in your home, there are a few methods you can opt for to rid your home of the nasty substance, but we recommend hiring a lead paint removal pro to ensure the job is done correctly.”

However, it noted that some homeowners might have to demolish the entire surface containing the lead-based paint, costing an additional $1,000 to $15,000.

The EPA’s latest proposal was triggered by a 2019 lawsuit filed by the Sierra Club and other environmental groups that alleged that the EPA has long set too-high limits for lead-based paint in homes and buildings. In what was described as a win for the environmental groups, the U.S. 9th Circuit Court of Appeals in San Francisco ruled in 2021 that EPA must reconsider its lead-dust health standards and update its rules.

New Federal Rule Could Force Millions of Homes, Schools to Remove Lead Dust

www.theepochtimes.com

Is Lead Dust REALLY an issue or some more made up nonsense in the 2020's

 

[GURPS]

How the migrant crisis is sparking an American civil war: TODD BENSMAN's dispatch from a militarized Texas farm - where Biden's federal agents are sabotaging the state's desperate border enforcement​

• U.S. Border Patrol leased a private pecan farm, at taxpayer expense, to help them process illegal immigrants entering America through Eagle Pass, Texas
• An enraged Texas Gov. Greg Abbott responded by dispatching officers to barricade the farm's gate and destroy a ramp leading migrants up from the river
• The wasteful, ludicrious conflict pits two American forces against each other and it's a glimpse into a truly dysfunctional border crisis

 

[GURPS]

Top senator assails Biden for letting heroin users off easy while turning smokers into criminals​

The Washington Free Beacon reported that those kits would provide users with the ability to smoke "any illicit substance," including crack cocaine and crystal methamphetamine. The story also noted existing smoking kit programs in cities such as San Francisco, Seattle and Annapolis, Maryland, all include smoking pipes.

The White House and the Department of Health and Human Services repeatedly denied that crack pipes would be distributed on the taxpayer dime, but the Free Beacon subsequently reported that harm-reduction organizations in five East Coast cities — New York City; Washington, D.C.; Boston; Baltimore; and Richmond, Virginia — all included crack pipes in their so-called safe smoking kits.

Amid the harm reduction approach, the Biden administration has simultaneously sought to impose tougher restrictions and punishments on certain gun owners and cigarette smokers, pushing rules that could end up classifying law-abiding citizens as criminals.

Last year, the administration's Food and Drug Administration (FDA) released a plan for a nationwide ban on menthol cigarettes, saying the actions have the potential to significantly reduce disease and death.

The FDA has said it can't and won't enforce the ban against individual consumers for possession or use of menthol cigarettes but will do so for manufacturers, distributors, wholesalers, importers and retailers who manufacture, distribute or sell such products within the U.S.

 

[GURPS]

Imploding Cities Will Drag All of Us Down — Even if You Don't Live Anywhere Near One​

First, a quick refresher on the compounding problems of urban areas. Chief among them is that big cities are dark blue, and thus they’ve become crucibles of Left-wing policy failure. Uncontrolled crime, roving drug and mental-illness zombies, and swarms of sanctuary-recipient asylum scammers are crowding out reasonable people and businesses. The normals who remain to take advantage of access to cultural events (such as they are) and restaurant variety are also subject to totalitarian social controls and two-tiered justice systems that punish them when they fight back against criminals. But no matter how desperate the situation becomes, city councils can be counted on to double down on woke policies, then double down again.

Businesses are fleeing. In the ones that remain, shopping for basic goods has become a frustrating exercise in waiting for an associate to unlock the case so you can grab a razor and some toothpaste. Add in today’s high interest rates, which make owning and running a business prohibitively expensive, and the writing is on the wall. PJ Media colleague Rick Moran reported last month that large San Francisco commercial businesses, like hotels and malls, are simply walking away from their obligations, handing the keys to the banks with which their real estate is financed. Concurrently, major retailers are declining to renew leases and are simply closing their doors, unable to break even in an atmosphere where retail theft is encouraged. This process is occurring to some degree in major cities across the country.

While we conservatives point and laugh at the plight of woke cities from the comfort and safety of our suburban and rural homes, we may want to take a moment to consider a sobering issue. The effects of the imminent collapse of the commercial urban real estate market will ripple out across the financial sector and affect just about everyone in one way or another.

Remember the mortgage-backed securities crisis in 2008? And how, even if you didn’t default on your mortgage or didn’t even own a house, the entire economy tipped into what the hyperbolic media tagged “The Great Recession” and we all suffered? So, this would be kind of like that, except the problem will start with a commercial real estate collapse.

An article in The Atlantic last month called “The Next Crisis Will Start With Empty Office Buildings” paints a grim picture of what’s going down. First, the demand for office space dries up:

During the first three months of 2023, U.S. office vacancy topped 20 percent for the first time in decades. In San Francisco, Dallas, and Houston, vacancy rates are as high as 25 percent. These figures understate the severity of the crisis because they only cover spaces that are no longer leased. Most office leases were signed before the pandemic and have yet to come up for renewal. Actual office use points to a further decrease in demand. Attendance in the 10 largest business districts is still below 50 percent of its pre-COVID level, as white-collar employees spend an estimated 28 percent of their workdays at home.
With a third of all office leases expiring by 2026, we can expect higher vacancies, significantly lower rents, or both.

Next, the loss of commercial tenants and landlords causes urban fiscal pain:

Property taxes underpin city budgets. In New York City, such taxes generate approximately 40 percent of revenue. Commercial property—mostly offices—contributes about 40 percent of these taxes, or 16 percent of the city’s total tax revenue. In San Francisco, property taxes contribute a lower share, but offices and retail appear to be in an even worse state.
Empty offices also contribute to lower retail sales and public-transport usage. In New York City, weekday subway trips are 65 percent of their 2019 level—though they’re trending up—and public- transport revenue has declined by $2.4 billion. Meanwhile, more than 40,000 retail-sector jobs lost since 2019 have yet to return. A recent study by an NYU professor named Arpit Gupta and others estimate a 6.5 percent “fiscal hole” in the city’s budget due to declining office and retail valuations. Such a hole “would need to be plugged by raising tax rates or cutting government spending.”

 

[GURPS]

Why ‘Bidenomics’ Isn’t Selling



Summers was right, of course. And, though few voters could have predicted the inflation spike with such precision, they know Biden’s policies created the problem. Moreover, they also know that Biden has consistently lied about the effect of his economic ineptitude. They remember when he said inflation was just temporary, and his Chief of Staff shared a tweet saying it was merely a high-class problem. Next, he blamed it on meat and poultry producers. Then it was Russia’s fault. Who can forget Putin’s price hike? Inevitably, he blamed oil companies and even threatened gas station owners. Eventually, Biden fell back on an old strategy used by his former boss—insisting that he had inherited inflation from his predecessor.

Now, as CNBC recently reported, the voters are increasingly worried that the Federal Reserve’s strategy to control inflation by raising interest rates may well result in a recession that rivals the “great recession” of 2008. And these concerns are by no means irrational. The Wall Street Journal points out a potential harbinger of recession that is rarely discussed outside of the academy: “While some economists are optimistic as hiring booms, employees are actually working fewer hours. Usually, reducing working hours has been a reliable sign of incoming layoffs – and a possible recession.” Meanwhile, the legacy media struggles to understand public skepticism about the efficacy of Bidenomics. The Week is typical:

[E]ven as the U.S. emerges from the iron grip of inflation, President Biden and his signature “Bidenomics” approach are getting little credit. Perhaps unfairly, shouldering the blame for an underperforming economy is a typical pitfall of the presidency — yet so is owning the political boon that comes with a healthy one. And Biden, for all his attempts, is struggling to convince the public that he deserves some kudos on that front; As of July 13, just 38.7% of Americans approved of the way he was handling the economy, according to a polling average from RealClearPolitics. Why are voters so reluctant to give the president his flowers?

The answer to this is obvious to anyone willing to stop slurping the Biden administration’s Kool-Aid. The rate of inflation has gradually decreased since last summer’s 40-year high, but prices nonetheless continue to go up every month. The cumulative increase since Biden was inaugurated has now exceeded 16 percent as David Winston writes in Roll Call: “Of the previous seven presidents, only Carter had a worse number.” TIPP Insights succinctly explains how that has impacted real people living in the real world: “You need $1,000 in earnings today to buy what $862 could buy when Biden took office. Alternatively, if you needed $50K yearly for household expenses before Biden took office, you now need $58K.”

 

[GURPS]

“It was like a scene from a movie,” an unnamed witness told the outlet. “They had the big gear, tactical gear because they probably didn’t know what they were walking into.”

An IRS spokesperson confirmed to The Epoch Times in an emailed statement that the agents were from the IRS Criminal Investigations (IRS-CI) unit, a division whose agents investigate crimes like fraud and tax evasion.

The agents, who are authorized to carry guns as their work can be dangerous, were at the location on “official business,” the spokesperson added.

The unnamed witness told Fox 29 that it appeared that the agents were removing evidence from the business in bags and boxes.

While details remain scant on the raid, the show of force by IRS agents was noteworthy as it recalled Republican criticism of a funding boost to the agency amid concerns that it would be used to hire more tax enforcers who would target ordinary Americans.

Treasury Secretary Janet Yellen and other Biden administration officials have insisted that the $80 billion funding boost would not be used to increase audits on Americans making less than $400,000 per year.

Some have questioned why IRS agents would need to carry firearms at all. Former Fox News host Tucker Carlson, for example, on Aug. 4, 2022, led a segment on his show by expressing concern that the government is “treating the IRS as a military agency” and is “stockpiling” ammunition.

Dozens of Armed IRS Agents In Tactical Gear Raid Florida Business: Report

www.theepochtimes.com

 

[herb749]

Why ‘Bidenomics’ Isn’t Selling



Summers was right, of course. And, though few voters could have predicted the inflation spike with such precision, they know Biden’s policies created the problem. Moreover, they also know that Biden has consistently lied about the effect of his economic ineptitude. They remember when he said inflation was just temporary, and his Chief of Staff shared a tweet saying it was merely a high-class problem. Next, he blamed it on meat and poultry producers. Then it was Russia’s fault. Who can forget Putin’s price hike? Inevitably, he blamed oil companies and even threatened gas station owners. Eventually, Biden fell back on an old strategy used by his former boss—insisting that he had inherited inflation from his predecessor.

Now, as CNBC recently reported, the voters are increasingly worried that the Federal Reserve’s strategy to control inflation by raising interest rates may well result in a recession that rivals the “great recession” of 2008. And these concerns are by no means irrational. The Wall Street Journal points out a potential harbinger of recession that is rarely discussed outside of the academy: “While some economists are optimistic as hiring booms, employees are actually working fewer hours. Usually, reducing working hours has been a reliable sign of incoming layoffs – and a possible recession.” Meanwhile, the legacy media struggles to understand public skepticism about the efficacy of Bidenomics. The Week is typical:



The answer to this is obvious to anyone willing to stop slurping the Biden administration’s Kool-Aid. The rate of inflation has gradually decreased since last summer’s 40-year high, but prices nonetheless continue to go up every month. The cumulative increase since Biden was inaugurated has now exceeded 16 percent as David Winston writes in Roll Call: “Of the previous seven presidents, only Carter had a worse number.” TIPP Insights succinctly explains how that has impacted real people living in the real world: “You need $1,000 in earnings today to buy what $862 could buy when Biden took office. Alternatively, if you needed $50K yearly for household expenses before Biden took office, you now need $58K.”

They are playing games with the inflation numbers. Food costs are still high or the quanity is shrinking. Gas fluctuates in price, down now back up. The govt seems to remove the higher priced item from the tally for the lower

 

[GURPS]

Biden Accused of Using New Act to 'Bribe' Pro-Gun States to Pass Gun Laws​

"The Department of Justice appears to have weaponized the Bipartisan Safer Communities Act to illegally fund ineligible 'red flag' laws and bribe pro-gun states into passing gun confiscation laws," the GOP senators and House Members wrote in a letter last week to top officials of the Biden Justice Department.

"Therefore, we, the undersigned members of Congress, write to you today to demand accountability for the Department of Justice's willful violation of the plain text of the statute, congressional intent, states' rights, and the Bill of Rights.

"The Bureau of Justice Assistance must swiftly correct this gross misuse of Bipartisan Safer Communities Act grant programs and instead respect the Second Amendment and due process rights of American citizens."

The letter — addressed to Assistant Deputy Attorney General of the United States Amy Solomon, DOJ Karhlton Moore, and copied to AG Merrick Garland — seeks answers to 10 questions by Aug. 18.

The GOP lawmakers, led by Sen. Roger Marshall, R-Kan., and Rep. Alex Mooney, R-W.Va., say the Biden administration is funding "controversial extreme risk protection order programs" like the Byrne State Crisis Intervention Program (SCIP) that violates American's "due process" and Second Amendment rights.

 

[GURPS]

Biden Administration Considering New Tariffs That Will Hike Prices for Canned Goods​

The Commerce Department and the International Trade Commission are considering a petition that would impose tariffs of up to 300 percent on tinplate steel, a key component in tin cans like those commonly used to pack food products including tuna, soup, baked beans, and more. If the administration decides to implement those tariffs on imports from eight countries, it would be a blatantly protectionist maneuver aimed at benefitting a single American company—the Ohio-based Cleveland-Cliffs Inc., which requested the tariffs—at the expense of consumers nationwide.

Those proposed tariffs will "threaten jobs, in the name of boosting employment" and "raise prices for low-income consumers, in the name of helping the working class," writes The Washington Post's Catherine Rampell.

Indeed, the past few years should leave little doubt that tariffs not only impose economic costs on consumers but also fail to achieve their politically motivated goals. Study after study has shown that the tariffs levied by the Trump administration on steel, aluminum, and lots of other goods resulted in American consumers paying higher prices. Earlier this month, in fact, another new report found that U.S. importers are shouldering 93 percent of the added costs from Donald Trump's tariffs.

New tariffs on the steel that is used to make cans for food will likely have a similar result. The Consumer Brands Association (CBA), which represents more than 2,000 companies including Campbell's Soup and other brands that stand to be harmed by the tariffs, estimates that the proposed 300 percent import tax would add about 58 cents to the cost of an average canned food product.

But consumers aren't the only ones to lose. Because the added costs from tariffs will be passed along the entire supply chain, the CBA estimates that they would put 40,000 jobs at risk. A separate study by the Trade Partnership Worldwide LLC, a pro-trade think tank, found that 600 jobs would be put at risk for every steel-making job protected by the proposed tariffs.

 

[GURPS]

‘Downright Evil’: Rep. Jim Banks Slams Biden Admin For Pulling Free School Lunches From Christian Kids In Need


Republican Indiana Rep. Jim Banks sent a letter Wednesday to Department of Agriculture Sec. Tom Vilsack demanding answers over a department rule change Banks said would block religious schools from participating in the USDA’s Food and Nutrition Service programs.

The rule change falls under the department’s Title IX sexual orientation and gender identity (SOGI) provision. The Daily Caller first obtained a copy of the letter, in which Banks mentions the California Department of Social Services (CDSS) blocking preschoolers enrolled at the Church of Compassion Dayspring Learning Center from qualifying for free lunches provided by the USDA’s Child and Adult Food Care Program in December 2022, because the preschool objected to the USDA’s SOGI rule.

“About 40 percent of the children at Dayspring are low-income and, before they were denied access to federal nutritional assistance, qualified for USDA’s Child and Adult Food Care Program,” Banks wrote in the letter. “For nearly twenty years, Dayspring had used the program to provide students in need with regular meals. As recently as 2022, that aid amounted to between $3,500 and $4,000 a month – until, as a result of your federal rule, it was cut off.”

 

[GURPS]

 

[GURPS]

Trucking giant Yellow shuts down: The 99-year-old company which has almost 30,000 staff and 12,000 big-rigs ceases operations immediately - despite $700M COVID bailout​

• The Nashville-based company has struggled with debt and union rows
• Each side blamed the other for Sunday's announcement of an immediate close
• It is the biggest collapse in terms of revenue and jobs for the trucking industry

The nearly 100-year-old firm is known for its competitive pricing and has more than 12,000 trucks shipping freight across the US for brands including Walmart and Home Depot.

But in recent years it has struggled under the weight of debt and had a highly contentious relationship with the Teamsters union: on Sunday, each side blamed the other.

Hundreds of non-union Yellow employees were laid off Friday from the Nashville, Tennessee, company, and about 22,000 Teamster members were told their jobs hung in the balance.

On Sunday morning, the company sent out notices to customers and employees saying it was ceasing all operations at midday.

 

[GURPS]

Why the Federal Reserve has made everything more expensive to make things less expensive​

It seems like a contradiction: How would increasing the cost of monthly credit payments help to bring down the price of goods and services in the economy?

But that is the logic Federal Reserve officials are following as they raise interest rates to 5.5%, their highest point in more than 22 years, to combat a pace of inflation that Fed Chair Jay Powell said Wednesday remains "much too high."

As Americans are now well aware, the cost of seemingly everything — hotels, cars, dining out — has gone up at a pace the Fed is deeply uncomfortable with.

“My colleagues and I are acutely aware that high inflation imposes significant hardship, especially on those least able to meet the higher costs of essentials like food, housing and transportation,” Powell said.

 

[herb749]

Why the Federal Reserve has made everything more expensive to make things less expensive​

It seems like a contradiction: How would increasing the cost of monthly credit payments help to bring down the price of goods and services in the economy?

But that is the logic Federal Reserve officials are following as they raise interest rates to 5.5%, their highest point in more than 22 years, to combat a pace of inflation that Fed Chair Jay Powell said Wednesday remains "much too high."

As Americans are now well aware, the cost of seemingly everything — hotels, cars, dining out — has gone up at a pace the Fed is deeply uncomfortable with.

“My colleagues and I are acutely aware that high inflation imposes significant hardship, especially on those least able to meet the higher costs of essentials like food, housing and transportation,” Powell said.

That's the big thing no one wants to talk about. The cost of borrowing.

 

[Clem72]

Why the Federal Reserve has made everything more expensive to make things less expensive​

It seems like a contradiction: How would increasing the cost of monthly credit payments help to bring down the price of goods and services in the economy?

But that is the logic Federal Reserve officials are following as they raise interest rates to 5.5%, their highest point in more than 22 years, to combat a pace of inflation that Fed Chair Jay Powell said Wednesday remains "much too high."

As Americans are now well aware, the cost of seemingly everything — hotels, cars, dining out — has gone up at a pace the Fed is deeply uncomfortable with.

“My colleagues and I are acutely aware that high inflation imposes significant hardship, especially on those least able to meet the higher costs of essentials like food, housing and transportation,” Powell said.

The way it was explained to me "in layman's terms" a million years ago when I was in school is that it's still the same supply and demand equation. Raising inflation reduces the supply of money, increasing the demand for money, which increases the "value" of money (reduces inflation).