A shocking prediction from the Dallas Fed left Joe Biden sweating bullets

Joe Biden has more problems than he can deal with.

But his biggest one may be yet to come.

Now, a shocking prediction from the Dallas Fed has him sweating bullets.

President Trump presided over the strongest economy in over a decade.

But Joe Biden has plunged it back into the dark days of Jimmy Carter.

The problems are piling up with no hope for a solution thanks to Biden’s socialist policies and incompetence.

Now the fallout from the Russian invasion of Ukraine is adding even more chaos.

With the ban on Russian oil, the world could be headed into its worst energy crisis since the 1970s.

That could set up the stage for Biden’s biggest economic disaster yet.

The Dallas Branch of the Federal Reserve made a dire prediction about the loss of Russian oil.

A report from their staff economists says a recession at this point is “unavoidable.”

“If the bulk of Russian energy exports is off the market for the remainder of 2022, a global economic downturn seems unavoidable. This slowdown could be more protracted than that in 1991,” the report said.

They said that removing Russian oil from the world market would be the biggest loss of supply since the 1970s.

Currently, Russia accounts for 10% of the world’s oil production.

The report noted that currently there’s no easy way to replace this much oil in global markets.

To make matters worse, Russia and Ukraine account for 29% of global wheat exports.

Disruption of their wheat exports would drive up global food prices.

Skyrocketing energy and food prices would lead to more inflation in an already battered economy.

Biden has been flailing around looking for a solution to the loss of Russian oil.

Negotiations with Iran and Venezuela have begun with the hopes that they could fill the void.

But the economists doubted that the two countries had the infrastructure in place to be able ramp production to the level needed.

With Biden hell-bent on his green energy agenda, oil from those two countries was his political Hail Mary to solve the crisis.

The report also said that Biden’s restrictions on American energy should be reconsidered.

The Federal Reserve is normally known for its caution and overly optimistic predictions.

Earlier, the Fed had predicted that inflation would only be temporary.

For them to issue a report saying a recession is virtually unavoidable is cataclysmic news for Biden.

A recession coupled with rampant inflation, high energy prices, and supply chain crisis would be political doom.

Democrats could see unprecedented losses in the midterm elections and Biden’s 2024 campaign would be dead on arrival.

Even worse, he refuses to listen to the reports’ call to unleash American energy.

Biden has no solutions to the energy crisis and will pay the political price at the polls.

With more economic pain on the way, the Biden economy could be on its way to rock bottom. 

Stay tuned to Conservative Underground News for any update to this ongoing story.