Federal Reserve interest rate hike draws mixed reactions: Fed committed to a 'high unemployment recession'

Former Reagan economist Art Laffer reacts to Fed Chair Powell's announcement of rate hikes on 'Kudlow.'

Federal Reserve Chairman Jerome Powell speaks during a news conference at the Federal Reserve Board building in Washington, Wednesday, July 27, 2022. "[H]ow to stop inflation in 4 easy steps, according to the federal reserve: 1) make everyone unemployed 2) cause a massive recession 3) ??? 4) profit," he wrote.

However, not all the reaction to Powell's announcement was negative. Many also praised the Fed for taking action to curb inflation, whichArkansas Rep. French Hill, R, tweeted, "The Fed kept interest rates too low for too long. They're now left playing catch-up in hopes of beating inflation in the short-run without damaging our economy in the long-run. I welcome their efforts to mitigate inflation and urge Chairman Powell to steer clear of policy fads.

Traitor joe

LIKE I SAID BEFORE INTEREST RATES WILL CONTINUE TO RISE AS LONG AS BIDEN IS IN OFFICE UNLESS THE NEEDLESS SPENDING IS STOPED.

Now wait a minute. I just read that Biden said employment is up and inflation is down. What are we supposed to believe?

They don't lose their jobs

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