SkipCaptcha, Automoderated users, edit
2,405
edits
Changes
Jump to navigation
Jump to search
Line 130:
Line 130: − + + +
Mnuchin let the money machines print at unprecedented levels during the early phases of the COVID pandemic
==Steve Mnuchin==
==Steve Mnuchin==
It was Mnuchin's Treasury Department which, in coordination with Mike Pompeo's State Department, imposed sanctions against Ukrainian whistleblower Andrii Telizhenko, thus preventing him from testifying before Congress.<ref>https://www.pscp.tv/w/1yoJMAlRAYWJQ</ref> It was also Mnuchin's Treasury Department which began the unprecedented amount of money-printing which initiated the post-COVID inflationary crisis.<ref>https://fred.stlouisfed.org/series/MABMM301USM189S</ref>
It was Mnuchin's Treasury Department which implemented the disastrous COVID-era monetary policy which is being continued to this day by his successor, [[Janet Yellen]]. According to the St. Louis Fed, the M2 money supply has increased from $15.4 trillion in January 2020 to $21.7 trillion in April 2022. In February 2021, the M2 money supply was $19.6 trillion, which means approximately two-thirds of the M2 money printed during the aforementioned period was printed under Mnuchin.<ref>https://fred.stlouisfed.org/series/M2SL</ref> By implementing this policy, Mnuchin ensured that inflation would be an issue during the 2021-2024 presidential term, regardless of who was inaugurated on January 20, 2021. Admittedly it is very unlikely inflation would have gotten as out of control as it has under Joe Biden, had Donald Trump been inaugurated instead. But that fact does not excuse Mnuchin implementing this policy, and in a second term Trump would've been well-served to replace him with a more competent figure.
It was also Mnuchin's Treasury Department which, in coordination with Mike Pompeo's State Department, imposed sanctions against Ukrainian whistleblower Andrii Telizhenko, thus preventing him from testifying before Congress.<ref>https://www.pscp.tv/w/1yoJMAlRAYWJQ</ref> It was also Mnuchin's Treasury Department which began the unprecedented amount of money-printing which initiated the post-COVID inflationary crisis.<ref>https://fred.stlouisfed.org/series/MABMM301USM189S</ref>
== References ==
== References ==