Fed Chair Powell sees progress on inflation, though not quickly enough
apnews.com
The Fed’s move to leave its benchmark rate at about 5.1%, its highest level in 16 years, suggests that it believes the much higher borrowing rates it’s engineered have made some progress in taming inflation.
    • anji@lemmy.anji.nl
      1·
      1 year ago

      They’re trying to find the middle ground. More 0% rates would destroy the economy with inflation, but 20% rates would destroy the economy with corporate slowdowns, an epidemic of bank failures, and great-depression scale unemployment. Inflation is high but trending down so they think the current policy is working.

        • MachineTeaching@feddit.de
          1·
          1 year ago

          No, quite the opposite. What I said is correct, which you can verify by looking up inflation figures, but I’ll save you the trouble.

          US Inflation Rate is at 4.05%, compared to 4.93% last month and 8.58% last year.

          https://ycharts.com/indicators/us_inflation_rate

          Also, it would be great if, in the future, you could put some more thought into your choice of words. We can disagree with each other without such a hostile tone and if I understand correctly, especially beehaw is trying to be a bit of nicer place and you weren’t very nice in your comment to me.