Federal Reserve raises interest rates for 10th time in a row, but first time since recent bank crashes, as inflation continues to crush Americans
· May 3, 2023 · NottheBee.com

When I listen to economists lately, they seem to be telling me one thing: Get rid of your cash and buy what you're going to need for the next few years as fast as possible.

It seems the Fed is confirming those fears by hiking interest rates again:

I never thought I'd see the day where I'd be thinking about commodities like gold in weight, not by the US dollar. "$300 million in gold" just doesn't have the same ring to it these days, because the US dollar doesn't really mean anything anymore. We're all just exchanging these worthless pieces of paper because enough people still buy into the scam, but at least it'll make us Zimbabwean trillionaires, right?

This is the first time we've had such high interest rates since 2007 and the Great Recession.

I think it's important to understand that 4 of the 5 largest bank crashes in American history have happened in the last few months.

And the Fed is still raising interest rates.

It is much, much worse than they are telling you, friends. Trusting the government to give accurate info on inflation is like trusting the mob to give you info on crime rates.

More from the AP:

Fed economists have estimated that tighter credit resulting from the bank failures will contribute to a "mild recession" later this year, thereby raising the pressure on the central bank to suspend its rate hikes.

The Fed is now also grappling with a standoff around the nation's borrowing limit, which caps how much debt the government can issue. Congressional Republicans are demanding steep spending cuts as the price of agreeing to lift the nation's borrowing cap.

The Fed's decision Wednesday came against an increasingly cloudy backdrop. The economy appears to be cooling, with consumer spending flat in February and March, indicating that many shoppers have grown cautious in the face of higher prices and borrowing costs. Manufacturing, too, is weakening.

I know we've been telling you the bad news for awhile, but it seems what's gone up might finally be about to come down.

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