28/10/2022
Check out a small snippet of something I was just reading...
"The Federal Reserve escalated its fight against inflation this week, instituting a major rate increase and saying more will likely follow. The moves will cause a jump in the number of unemployed Americans by the end of next year, the central bank said.
The Fed has put forward a series of aggressive interest rate hikes in recent months as it tries to slash price increases by slowing the economy and choking off demand. But the approach risks tipping the United States into a recession and causing widespread joblessness."
They are actually saying that to tackle inflation a higher percentage of unemployment is needed. Aka people need to lose their jobs and not be able to find a new one. And do you know who will be most impacted? The Black and Hispanic community, young workers, and less educated workers.
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https://abcnews.go.com/Business/fed-unemployment-rise-economists-lose-jobs/story?id=90375709
Job losses caused by the Fed's rate hikes would fall disproportionately on vulnerable workers, economists say.
