Dramatic shift comes after more than two years of high rates helped tame inflation but that also made borrowing painfully expensive for American consumers
That’s the thing, it’s Congress being a limp dick that forces the Fed to fight inflation with rate raises that inevitable ends hurting workers.
If the inflation induced by the monopolization of key industries and pure greed would have been addressed by legislative action restoring the free market and clawing back windfall profits through smart taxation, people would be better off and would not be looking to elect a fascist.
The “Fed only has this one tool” situation is a false dilemma. Inflation is not the root problem, the oligarchy is.
That’s the thing, it’s Congress being a limp dick that forces the Fed to fight inflation with rate raises that inevitable ends hurting workers.
If the inflation induced by the monopolization of key industries and pure greed would have been addressed by legislative action restoring the free market and clawing back windfall profits through smart taxation, people would be better off and would not be looking to elect a fascist.
The “Fed only has this one tool” situation is a false dilemma. Inflation is not the root problem, the oligarchy is.