@rbreich Old money needs to keep it. "Put the boots to them." if that won't work war will.

@rbreich The Fed, combined with House Republicans, is steering us into another Great Depression just in time for the next Presidential Election cycle.

@rbreich the greatest threat to the wealthy is everyone having a job and inflation eroding the value of their USD-denominated speculative financial assets.

@rbreich I am not a banker (IANAB ?) but I continue to suspect that the raising of interest rates is mainly driven by a desire to have a tool (cutting interest rates) next time there is a recession. Pain inflicted by getting there is "incidental contact after the play".

@rbreich The Fed is living Abraham Maslow's axiom (now modernized), "When all you have is a hammer, everything looks like a nail," to the detriment of working families.

@rbreich You say that as if the Fed's actual mandate isn't to break the power of labor.

@rbreich they, and the RBA in Australia are using the (generally younger) mortgage holders to pay for the excess profit taking of the large corporations - who are reeling in more than 10% extra pure profit. It isn’t inflation- it is profit taking on the back of the disempowered to generate shareholder value. Gross.

@rbreich The Fed is not on the side of the public.

@rbreich
Even less surprising is how calculated it was. One day after Australia decided to unnecessarily lift the rate, America does. In our world this would be referred to as collusion & thus illegal

@rbreich raising interest rates when inflation is getting out of control is economics 101