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#AndrewBailey

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In a separate ruling in #Missouri, US Dist Judge John A. Ross #enjoined the #Education Dept from forgiving more #loans thru #SAVE. The decision is a win for MO #Republican AG #AndrewBailey, who led 6 states in filing the lawsuit….

Bailey argued the Missouri Higher Education Loan Authority, a quasi-state agency that services federal #StudentLoans & funds state #scholarships, loses revenue from servicing direct loans — those made & owned by the federal govt — when loans are wiped away.

So the #BankofEnglandf to no-one's real surprise has held #interestrates where they are.... with #AndrewBailey saying 'there's some way to go' - as I've said before the cost of getting #inflation down to around 2% is not being paid by Bailey & his chums.... it's workers & others who will suffer as the high interest rates continue to dampen down economic activity.

At some point, one has to as *is* it a price worth paying?

but not asking Bailey & his chums in their big banking offices...

#JeremyHunt & #AndrewBailey (from the BoE) have been out & about again arguing for 'wage restraint' to tackle inflation....

OK, you bozos read my lips:

WHAT WE NEED IS PROFIT RESTRAINT!

Either these two cannot understand what is actually happening, or they don't want to understand & would rather just impoverish #workers rather than ask companies to show some restraint in setting margins.

If you thought the #Tories are running the county for your benefit, they've hoodwinked you, I'm afraid!

#AndrewBailey admits the BoE's #economic modelling hasn't predicted either the acceleration of #inflation nor its persistence at a high(er) rate;

the MPC has reduced the weighting of the formal modelling, to be balanced by what? Tarot cards; finger in the air; 'our best, informed guesses'?

As controlling inflation is (now) what the BoE's 'does' this is a major admission & saying 'we have very big lessons to learn' is an understatement.

Overpaid #bankers aren't the ones that suffer of course!