Remember how the Fed said inflation wasn't happening but if it was it was transitory?
If you're not well versed in economics (I know you're reading, AOC), this means the Federal Reserve is set to make a series of moderate interest increases that will make any and all loans much more expensive for the average person.
This is being done so that people spend less money in an effort to control inflation.
You may be thinking, "Wait, but these are the people who just printed trillions of dollars over the last two years and injected it willy-nilly into circulation."
Yes, but we're not supposed to talk about that! Just suck it up, buttercup. Who needs cars, homes, and other things anyway??
If you're wondering what happens when the tinkerers at the Fed try to mess with the free market:
Charles Mizrahi, founder of Alpha Investor, said the Federal Reserve's effort to lower inflation through increased interest rates may not have the intended effect, and, as history has shown, it is a messy process.
"You know, out of the 16 times they raised rates … 13 times they put the country into recession. It's really, really a difficult act," Mizrahi told Steve Lance, host of NTD's "Capitol Report," in a recent interview.
...Mizrahi said the Fed should have taken these steps last year at the outset of inflation, because the increased interest rate is unlikely to have the intended effect.
"That works in the textbooks and in the ivory towers. It's very, very messy when you do it in the real world," said Mizrahi. "Because what happens is The Fed is sometimes behind the curve, like they are now, they're gonna have to play catch up, and you can't corral a 4 or 5 percent inflation rate by raising rates to 2 percent."
"You have to get interest rates ahead of the inflation in order to bring it in. So, it's going be a big impact, no question about it."
Welcome back to the 1970s, y'all.
Oh, and now might be a good time to mention the prophesy of Michael Burry, the man who called the 2008 crash and the Great Recession, last June:
YIKES.
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