According to concealed camera footage, it is alleged that the U.S. Federal Reserve deliberately neglected to address inflation earlier, fearing that it could adversely impact President Joe Biden’s chances of re-election and potentially reinstate former President Donald Trump in the White House.
Despite President Biden’s assertions that the U.S. economy is thriving and inflation is under control, ordinary Americans are experiencing the effects of rising prices at every turn. Aurel Hizmo, a prominent economist at the Federal Reserve, disclosed to an undercover journalist that the Fed refrained from increasing interest rates to combat inflation due to concerns about triggering a recession. Such an outcome could potentially jeopardize Biden’s campaign for the 2024 election.
Furthermore, Hizmo revealed that Jerome Powell, the chair of the Federal Reserve, harbors animosity towards Trump and perceives himself as someone who stood firm against the former president. Hizmo added that during Powell’s initial term, he resisted lowering interest rates to stimulate the economy simply because Trump desired.
BREAKING, INSIDE THE FEDERAL RESERVE: Hidden Camera captures Principal Economist @federalreserve talking about Jerome Powell’s legacy as “somebody who held the line against like, Trump.” The influential agency responsible for maintaining a stable monetary system appears to not… pic.twitter.com/5CqZX2LhwT
— James O’Keefe (@JamesOKeefeIII) April 10, 2024
“So Trump nominated him, and Congress approved it, and then as soon as [Powell] became chair, Trump wanted him to lower interest rates. Because when you lower interest rates, it stimulates the economy, And Trump was president, he wanted to stimulate the economy. But [Powell] wouldn’t do it. He started raising interest rates and doing the opposite of what Trump wanted. And Trump tried to find all the loopholes to fire him,” Hizmo said.
Hizmo stated that although Powell’s association with Trump was filled with conflict, he maintains a harmonious rapport with Biden and his administration. Hizmo even highlighted Powell’s accomplishments as the chair of the Fed, which encompassed advancements in areas such as equity and racial matters, wealth disparity, and climate change.
“[Powell] creates an environment to foster research in [climate change], to foster discussion in the area where, like, it’s a friendly environment where we can hire climate scientists,” Hizmo told the undercover journalist.
“[Powell] creates an environment to foster research in [climate change], to foster discussion in the area where, like, it’s a friendly environment where we can hire climate scientists,” Hizmo told the undercover journalist.
“Biden wouldn’t want the interest rates to go lower. At the same time, he doesn’t want inflation. Inflation is bad. Everybody is complaining about it,” he said. The Fed could be doing more to slow inflation but doesn’t want to do anything that would “create a recession,” according to Hizmo said, explaining that Powell wants Americans to see him as a “savior.”
Hizmo acknowledged that he does not collaborate with any individuals who identify as Conservatives, stating that within the Federal Reserve, there is a perception that Conservatives or Trump supporters are unintelligent. “So the feeling is this: we don’t want Trump to be in the government. But if he comes, we’re still gonna try to do the best we can for the country. Now, if he messes up, if he does something stupid, then we have to fix it,” he said.
