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Why the Federal Reserve's solution to inflation is wrong, explained by Samir Sonti
The Federal Reserve has responded to runaway inflation with a spike in interest rates. The real cost of such measures is primarily paid by the working class, who are caught in a double-bind of rising prices of goods and falling wages. As TRNN has covered extensively in the past, the real culprits of rising inflation are multinational corporations and financial institutions, who have opportunistically raised prices, recycled billions of dollars in stock buybacks, and benefited from massive federal bailout packages. Why is the Federal Reserve squeezing workers, and how should the inflation…
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