Peace, prosperity, these are the demons you must slay if you wish to own the libs

Another round of congratulations to the voters who were upset about inflation in an otherwise robust economy and so decided to put Donnie Stagflation in the White House:

The Federal Reserve’s biggest fear has always been having to choose between fighting inflation and protecting jobs. Friday’s employment report brought that dilemma a step closer.

Just weeks ago, a solid January jobs report had raised hopes that the labor market was finding its footing after months of fitful hiring. Friday’s report wilted those green shoots, showing a loss of 92,000 jobs in February and an increase in the unemployment rate to 4.4%. The readings ended optimism about stabilization and reanimated worries that the labor market has been quietly deteriorating.

For Washington, the timing could hardly be worse. Fed policymakers were just beginning to grapple with new threats to energy and commodity prices following the U.S.-Israel military campaign in Iran, which has closed key global shipping lanes and threatens to shut down swaths of energy production.

“Let’s not overreact to one month’s numbers, but an environment in which inflation is rising and the unemployment rate is also rising, that’s not any fun for the central bank,” Chicago Fed President Austan Goolsbee said in an interview Friday.

The report landed at an awkward moment for the White House, which has spent the past year arguing that its program of deregulation, trade deals and tax cuts would unleash a new era of job creation. Instead, the opposite appears to be happening: Hiring has slowed, and the administration’s fluid tariff program and now the military campaign in Iran have injected the kind of uncertainty that businesses cite when they stop adding workers.

The Middle East conflict has raised the prospect of another bout of price increases in an economy where inflation has been above the Fed’s 2% goal for five years. A jobs report that might otherwise have opened the door to rate cuts was instead wrapped in inflationary risk.

Don’t worry, though, the president is on it:

President Donald Trump acknowledged that oil and gas prices may go up, and less than a week into the war in Iran, they already have.

“We have a little high oil prices for a little while, but as soon as this ends, those prices are going to drop I believe lower than ever before,” Trump said in the Oval Office on March 3. He also later told Reuters in an exclusive interview on gas price increases that he doesn’t “have any concern about it,” saying the military operation “is far more important than having gasoline prices go up a little bit.”

A senseless war, terrible job market, rising prices (in part caused by the senseless war) — just one heck of a job. And in case Pam Bondi joins the chat Dow 50,000 is gone too. I’m sure more import taxes will fix the problem.