It is good for the economy, in general, when more people work. It is bad, however, for the quality of life and for society, in general, when our senior citizens become WalMart greeters, and our mothers leave their children to their own devices because they must work to feed the family, fill the gas tank, heat or cool their home, and pay for health, car, and homeowner insurance.
Remember, markets are forward-looking to what might happen 6 to 18 months into the future. Most of the Fed’s rate hikes are already priced into the markets. The market is already thinking that the induced recession caused by the rate hikes will force the Fed to only lower them to fight the evident recession they created. More free money is coming – fuel for the markets. This is what the markets are digesting now.
Now Biden has declared a climate emergency. He figures that he can force U.S. manufacturers and oil producers to produce more, which will force prices to drop. He figures he can open our markets to foreign Green Energy products which will drop prices further. Tariffs that protect our domestic producers, forget them in the effort to get more Green energy products here cheaper, and sooner.