JUST IN: Fed raises key interest rate by 0.75% in historic move “to fight inflation”
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3 COMMENTS
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Raising interest rates to fight inflation only makes sense when inflation is caused by too much cash in the system. NOT when inflation is being caused by government induced supply chain shortages!!! This is only helping to drive us into a recession. Businesses that now need to pay more to hire won’t want to borrow creating a vicious cycle. It will also keep the middle class where they are by destroying dream of home ownership from many!!
#1, agree. The reason prices are out of control is due to a shortage in production and the ability for those goods to be made available to the consumer. Biden deserves credit- it is no simple feat to be able to wreck an economy to this extent in a mere 16 months.
Silly guy, his gaava is causing him not to immediately revoke his executive order and allow the keystone pipeline. At least for gas that would help. And it would help him gain more votes.