Mastodawn

DaftAmy Mar 22, 2023

Once again, interest rate hikes are going to fall hardest on low-wage workers and the poor — the same people who have already been hurt the most by rising prices.

Higher rates could also imperil more banks, and risk even more financial chaos.

The Fed is playing with fire.

Show thread

Robert Reich Mar 22, 2023

https://www.theguardian.com/commentisfree/2023/mar/21/federal-reserve-interest-rate-hikes-central-banks

To prevent more bank runs, the Fed should pause rate hikes

Inflation is receding, albeit slowly, so there’s no reason to risk more financial tumult. Will the central bank see it that way?

The Guardian

Show thread

KanaMauna Mar 22, 2023

@rbreich

It is intentional. The goal is to increase anxiety and damage the economy, an assist to the #Repugs in '24.

Show thread

Nichol Brummer Mar 22, 2023

@rbreich not just the Fed, unfortunately. They are setting a trend.

Show thread

Lilyshome Mar 22, 2023

@rbreich the Fed is playing into the hands of the GOP

Big Head Tales Mar 22, 2023

@rbreich
The Fed is protecting the filthy rich.

It's the same game every time regular Americans start to get a little bit ahead.

This will make 2008 look like a rounding error. Either way, the rich will scoop up the assets of Americans as they fail.

Show thread

ZeroTr0ll Mar 23, 2023

@rbreich
Just an Idea...

Coups Don't Depress Economic Growth
https://www.bloomberg.com/opinion/articles/2016-07-17/coup-probably-won-t-depress-turkey-s-growth-history-shows#xj4y7vzkg

Bloomberg - Are you a robot?

Show thread

Gurtbeef Robe Mar 23, 2023

@rbreich my student loan payments went up $150 a month. Private ones went from $360 to $510 and that’s not including the federal ones