Jerome Powell’s Message to Americans: Get Ready…Pain Is Headed Your Way
During the 2022 Economic Symposium, Chairman Powell announced the Fed will do whatever it takes to bring inflation back to earth.
Then, he admitted out loud:
“While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses.”
He means MORE pain, doesn’t he? By the date of the 2022 Economic Symposium, inflation had already been at or near 40-year highs for about 9 months:
- 61% of the country now lives paycheck to paycheck.
- Real wages have been negative for well over a year.
- Personal savings rate is the lowest since the financial crisis.
- Consumers are racking up record personal debt to keep up.
- More Americans work two full-time jobs than any time since the data has been tracked (1994).
AND … mixing decades-high inflation with rising interest rates wiped trillions from IRAs, 401(k)s and other retirement plans.
How much more can we take?
According to Jerome Powell, you’re about to find out.
If you have a $100,000+ IRA/401(K), click here to learn how to fight inflation with a physical gold IRA. DOWNLOAD THE “Inflation Fighter Kit” prepared by Harvard-trained economic analyst Devlyn Steele.
Last year, as inflation fires burned, Powell and Treasury Secretary Janet Yellen told us the inflation that was growing right before our eyes was only “transitory.”
Then the economic reality gave way to political messaging, and inflation grew even more intense.
Powell admits there is only one way left to extinguish soaring prices: “forceful and rapid steps.” And what about the economic fallout? He said:
“These are the unfortunate costs of reducing inflation.”
You can’t say you haven’t been warned. They KNOW it’s happening, and they want us to just take it.
The big question is: What can YOU do to fight this?
If you have $100,000+, the answer is: Diversify!
If you’ve saved $100,000 or more in an IRA, 401(k), TSP or another retirement account, get the free guides written by me. I’m Augusta Precious Metals’ on-staff, Harvard-trained economic analyst and director of education.
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The free guides give you access to information not easy to find elsewhere. They are designed to help retirement savers hedge against whatever economic stresses Congress and our president throw at us next.
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Let us help you offset economic stress the Dems just created & find peace of mind for your retirement!
*Joe Montana is a customer and paid ambassador for Augusta.  FederalReserve.gov, “Monetary Policy and Price Stability” (August 26, 2022, accessed 8/29/22) (emphasis added).  U.S. Bureau of Labor Statistics, “Consumer Price Index Archived News Releases” (accessed 9/13/22).  Jessica Dickler, CNBC.com, “Unrelenting inflation is driving up costs, leaving more Americans living paycheck to paycheck” (August 1, 2022, accessed 8/29/22).  Bureau of Labor Statistics, “Real Earnings Archived News Releases” (accessed 8/29/22).  Federal Reserve Bank of St. Louis, Personal Saving Rate (accessed 8/29/22).  Reuters.com, “U.S. household debt tops $16 trillion amid rising inflation” (August 2, 2022, accessed 8/29/22).  Federal Reserve Bank of St. Louis, “Multiple Jobholders, Primary and Secondary Jobs Both Full Time” (accessed 8/29/22).  Suzanne Woolley, Bloomberg.com, “America’s $7 Trillion Retirement Crisis Is Only Getting Worse” (August 16, 2022, accessed 8/29/22).  Jeff Cox, CNBC.com, “Yellen says the administration is fighting inflation, admits she was wrong that it was ‘transitory’” (June 1, 2022, accessed 8/29/22).  FederalReserve.gov, “Monetary Policy and Price Stability.”  Ibid.  Ibid.