Absolutely, I think it's an irresponsible bill, tying support for Israel, lacking support for Ukraine, which are both vital national security interests, and then, tying aid for Israel to what is really an irresponsible proposal, to cut funding for our Internal Revenue Service.
Janet Yellen criticizes a House bill that ties aid for Israel to cuts in IRS funding.
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I am optimistic, because I believe that the big inflationary impulse that we saw in 2022 largely was global.
The Fed does not have a 'good handle on how the tariffs are going to affect either spending in the labor market or inflation.'
I would expect inflation, on a year-over-year basis of this year, to shoot up to at least 3%, or slightly over, because of the tariffs.
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