Big corporations are using inflation as cover to raise prices. Yet the US Federal Reserve is raising interest rates – further hurting Americans
The US Federal Reserve is aiming its powerful firehose at the living room but it’s the forest that’s ablaze. As a result, people may drown even as their house catches fire.
This about sums up the sorry state of inflation-fighting in America.
On Wednesday, the Fed – America’s central bank – raised interest rates by three-quarters of a percentage point, and signaled more rate increases to come, perhaps as soon as September.
This followed a quarter-point increase in March, another half a point in May, and three-quarters of a point in June.
