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That’s why the feds backstopped unemployment and airdropped stimulus checks. Dropping the interest rate was unnecessary and caused more harm to vulnerable cla
by adrr 4y ago
That’s why the feds backstopped unemployment and airdropped stimulus checks. Dropping the interest rate was unnecessary and caused more harm to vulnerable class than good by increasing inflation. This recession caused raising interest rate will wipe out the vunerable class once again while upper income classes won’t even notice except in their portfolios. We see this currently with luxury spending still elevated while other sectors are seeing softening demand.
- rootusrootus 4y ago> Dropping the interest rate was unnecessary and caused more harm to vulnerable class than good by increasing inflation. If the fed's interest rate shenanigans are to blame for inflation, why is it affecting every other country in the world too?
- adrr 4y agoBecause other national banks did the same thing. EG: National Bank of England dropped their rate to 0.1%