The Fed continues its crackdown on inflation, pushing up interest rates again

The Fed has raised its benchmark interest rate seven times since March, from near zero to just under 4.5%.

On average, Fed policymakers now expect their benchmark rate to reach 5.1% next year — up from 4.6% they were projecting in September. The price of haircuts rose 6.8% in the last twelve months, while the price of dry cleaning jumped 7.9%. Services other than housing and energy account for nearly a quarter of all consumer spending.

These people continuously display that they do not understand finance, economies, or even basic math. Global economists have been warning these interest rate increases will compound our recession issues

Our economic system is insane. The Fed increases usury and concentrates wealth to save poor Americans from inflation.

Did it work the first 10 times?

This is incorrect and sloppy. The federalreserve is not 'cracking down' on inflation, as current inflation is driven by price gouging and international price fixing schemes. This is old-fashioned GOP strategy, punishing the middle class, while corporations enjoy record profits.

Maybe trump and Pelosi shouldn't have printed 35% of all the USD in existence during the pandemic maybe Joe Biden shouldn't have continued printing another 45%.

Inflation is still out of control. We've had 19 months with inflation over 4%. The target is 2% and we've been at double to quadruple the target for a year and a half. That's out of control.

And stocks tank. Thank you for trying to kill the economy...not.

The fed is reducing demand, including hiring, to reduce the Big Dems' trickle down inflation. Fewer jobs and lower wages mean fewer and smaller contributions to NPR and other non-profit corporations.

It’s almost as if prices rise quickly, and slowly come back down if at all.

Can someone explain to me what this means as if I’m 10 years old

I think the economy isn't a nail this time. Oh well.

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