“Greenflation” Wreaking Havoc on U.S. Economy

Article originally appeared on amac.us.

Last Wednesday, the Federal Reserve once again raised interest rates by 25 basis points – the 10th consecutive rate increase as inflation remains a persistent problem. While President Joe Biden and congressional Democrats have blamed everything from COVID-19 to former President Donald Trump for the crisis, mounting evidence points to Democrats’ obsession with the “greenification” of the U.S. economy as a major source of the inflation facing the country today.

Some economists were optimistic last week that the Fed’s most recent rate hike could be the last amid persistent market turmoil and renewed pressure from lawmakers to back off. Mark Zandi, chief economist for Moody’s Analytics, said, “the bar for [the Fed] to raise rates again any time soon is high.”

Fed Chair Jerome Powell also hinted that this most recent rate hike might …

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