Sasha Yanshin: The Federal Reserve has just increased interest rates by 0.25% to 5.5%. In June the Fed said that they are pausing interest rate hikes to get more data and since then inflation fell from 4.0% to 3.0%, core inflation has fallen, rent prices are falling, every key inflation indicator is falling and projected to keep falling. Now the Fed is seriously risking overtightening and creating artificial deflationary pressure that can have far worse consequences than the inflation they are trying to tackle.
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