(RepublicanDaily.org) – The Federal Reserve has motioned to restrict the political advocacy of their employees, Bloomberg reported. The restrictions were reportedly quiet as looming debt and inflation crises hang over the horizon.
Politico analyzed that avoiding default was only half of the U.S. government’s debt ceiling fight. Despite the buzz surrounding the debt ceiling crisis, Washington reportedly expects the Biden administration to find a way to pay the U.S. bondholders.
Former Biden White House official and PGIM Fixed Income chief global economist Daleep Singh attributed economic collapses around the world to “extreme political polarization.” Singh reasons that the debt issues are directly caused by political polarization.
Singh analyzed that current economic politics have focused on a “payments prioritization” policy. This would prioritize the process of the government paying off some loans while withholding checks to other government entities.
Singh believes this would be “only fractionally better than default,” and reasoned that it would have a significant impact on credit agencies across the U.S., forcing the cost of borrowing anything to go up.
Republicans, however, believe that debt prioritization is the answer to resolving government debt crises, and plan to push certain prioritization policies should the debt ceiling be raised, The Hill reported.
The Brookings Institution attributed strong politics as a fuel to the inflation crisis as well, saying that inflation politics was “clearer” than inflation economics. Contributors said that, while inflation rises, the Biden administration “cannot ignore” what people are experiencing in their daily lives.
Americans surveyed in a recent Gallup poll cited the government as the “top problem” facing the nation, with inflation coming in as “the second” most pressing issue, Fox News reported on January 30. The same poll likewise attributed a 41% approval rating to President Biden.
The poll found that 24% of Republicans and Republican-leaning independents felt that the government’s poor leadership was among the top problems. The poll found 18% of Democrats and Democrat-leaning independents agreed. The government topped out as the problem Americans voted for as the leading national issue.
Copyright 2023, RepublicanDaily.org