The Fed keeps raising interest rates. Working people are getting hammered by it

Robert Reich writes that the pricing power of corporations is pushing up inflation at the expense of those who are low income

Friday at Jackson Hole, Wyoming, Federal Reserve chairperson Jerome Powell said the Fed must continue to raise interest rates, even though it will “bring some pain to households and businesses”.

This – with all due respect – is nuts.

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from US news | The Guardian https://ift.tt/FB7kjWx
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