Barack Obama’s favorite Wall Street firm made one prediction that spells doom for Joe Biden

Joe Biden’s life has turned into a nightmare.

Even his allies can’t hide the bad news.

And Barack Obama’s favorite Wall Street firm made one prediction that spells doom for Joe Biden.

As the biggest economic problem plaguing the country, inflation is the driving force behind Joe Biden’s plunging poll numbers.

Even though Biden claimed that inflation would be temporary, every month brings another devastating report.

It’s become clear that inflation is a problem that’s not going away in the near future.

To combat inflation, the Federal Reserve is raising interest rates in a bid to drive down demand in the economy.

Despite a series of interest rate hikes, including the largest since 1994, inflation remains at a 41-year high.

The Fed is on track to keep raising interest rates for the rest of the year.

But with the economy in a technical recession, some analysts expect them to back off from raising rates.

Investment bank Goldman Sachs is one of the biggest and most politically connected players on Wall Street.

The company enjoyed a cozy relationship with former President Barack Obama, staffing his regime and pouring millions of dollars into his campaign coffers.

Jan Hatzius, chief economist for Goldman Sachs, is one of the best in the business when it comes to economic predictions.

During the Great Recession of 2009, he won the Lawrence R. Klein Award for being the “most accurate economist.”

Hatzius was one of the most pessimistic economists on Wall Street in the run up to the financial crisis.

In an appearance on Bloomberg’s “Odd Lots” podcast, the noted economist made another grim prediction about what the Fed would have to do to get inflation under control.

The major dilemma for the Fed is getting inflation down to normal levels without creating a major recession.

Hatzius was asked if the Fed could achieve its goal of getting inflation down to its target rate of 2% without a major recession.

“I think it’s possible, and I do think that there is a path toward something like 2 percent that doesn’t involve a recession,” Hatzius said. “But it’s a very narrow path, and obviously we’ve seen a lot of unanticipated shocks over the last two and a half years. You have to be very humble in your ability to predict what’s going to happen.”

Hatzius explained that jobs would have to be lost to bring inflation down to 2%.

“We still have close to 11 million open positions and less than six million unemployed workers,” he said. “That’s still a very large gap, basically unprecedented, both in absolute terms and relative to the size of the population in postwar history,” Hatzius continued.

The low employment rate will force the Fed to crush the job market to bring down demand in the economy to hit 2% inflation.

That would take a crippling recession that would leave Joe Biden’s beleaguered Presidency on life support.

Renewed Right will keep you up-to-date on any new developments in this ongoing story.