2022-07-27 13:00:52

Richard Wolff: Fed Rate Hikes Are “Body Blow” to Workers Reeling from Pandemic, Growing Inequality

Democracy Now! speak with Marxist economist Richard Wolff about how experts forecast another economic recession in the United States, with inflation at a historic high and a federal minimum wage that hasn’t changed for 13 years. The Federal Reserve's plan to combat rising inflation by raising interest rates delivers a “body blow to a working-class” already suffering from decades of upward wealth redistribution and a pandemic, says Wolff, emeritus professor of economics at the University of Massachusetts Amherst and visiting professor at The New School. His latest book is “The Sickness Is the System: When Capitalism Fails to Save Us from Pandemics or Itself.”

Democracy Now! produces a daily, global, independent news hour hosted by award-winning journalists Amy Goodman and Juan González. Our reporting includes breaking daily news headlines and in-depth interviews with people on the front lines of the world’s most pressing issues. 

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#democracynow 13 years Amherst Capitalism Marxist economist Pandemics Richard Wolff Sickness Is the System University of Massachusetts

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