2022-08-31 11:38:25

Federal Reserve Raises Rates, Promises “Pain,” Ignores Profiteering



Federal Reserve Raises Rates, Promises “Pain,” Ignores Profiteering

In a speech last Friday, Federal Reserve Chair Jerome Powell announced that he would be raising interest rates once more to bring down inflation. Powell said, “While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses.”

Meanwhile, corporations are the ones setting prices higher than they need to be, inflating profits to an all-time high.

 

 Rising Up with Sonali is a radio and television show that brings progressive news coverage rooted in gender and racial justice to a wide audience. Rising Up With Sonali was built on the foundation of Sonali Kolhatkar's earlier show, Uprising, which became the longest-running drive-time radio show on KPFK in Los Angeles hosted by a woman. RUS airs on Free Speech TV every weekday.

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federal reserve chair federal reserves Inflation Interest rates Labor labor conditions

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