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Please elaborate instead of being snarky .
by bubbleRefuge 4y ago
Please elaborate instead of being snarky .
- jlmorton 4y agoTurkey's president, Recep Tayyip Erdogan, famously agrees with your unorthodox assessment, that high interest rates cause inflation, and the cure is lower rates. [1] [1] https://www.cnbc.com/2022/09/29/erdogan-says-turkey-will-keep-cutting-interest-rates-mocks-british-pound-.html https://www.cnbc.com/2022/09/29/erdogan-says-turkey-will-kee...
- bubbleRefuge 4y agoOk. Thank you . He is right about that technically if there is allot of government debt in the economy and the government is net payer of interest, then raising interest rates can cause inflation via more money in pockets leading to more demand. Just because Erdogan may be a disliked or reprehensible politician does not mean he is not logical when it comes to government finance or he probably was told that by someone who recognizes this.