Ruining the economy to fight inflation

[Johnny2X2X]

This is just insane, the Fed botched the fight against inflation so terribly that they're now all out going to ruin the economy for regular people.

https://finance.yahoo.com/news/why-the-fed-wants-corporate-america-to-have-a-hiring-freeze-morning-brief-100055174.html

So since they botched it, they're now openly rooting for the little guy to lose their job.

“Chair Powell keeps mentioning the relationship between the high level of job openings and wage/price inflation,” Nicholas Colas, co-founder of DataTrek, wrote in a newsletter on Tuesday. “He’s not talking to investors. He’s talking to corporate America, and his goal is to have companies essentially institute a hiring freeze and end the cycle of paying up for new hires.”

This is how they think, they think people having jobs and making a little more money is a bad thing, and the thing they need to get rid of to fight inflation. Workers in this country were finally seeing their wages rise, and that's the first place these clowns look then to fight inflation, the wages and jobs of the little people. Disgusting and depressing.

CHEAP LABOR!!! That's what our economy apparently runs on. The fact they're going after workers to fight inflation and not the price gauging corporations tells you everything you need to know about this country. I am beside myself watching this, they're choosing to take inflation down by killing jobs and depressing wages.

[HariSeldon]

1. I can barely contain myself over how wrong he is

Powell should be talking to Congress and the President, saying "We need taxes on the wealthy; that's what will damp inflation."

Inflation indicates too many dollars in circulation for the available productivity. The only entity that can reliably "suck up" some of those dollars -- so that the remainder have higher value -- is the federal government, via additional taxes. But raise taxes on the poor and middle class and we'd see an economic downturn as they diminish their consumption (living, as most of them do, at the edge of their means). So tax the rich -- fight inflation!

[Johnny2X2X]

2. It's just sickening

They're openly calling for YOU and I to lose our jobs to fight inflation. They're openly calling for the economy to go into the tank so wages can be lowered to fight inflation. These are the ghouls running the economy. They just can't stand to hear that people are making $15-20 to start at jobs right now, they are the ones that think the Federal minimum wage of $7.25 needs to stay there so they can get those workers back down to that wage.

They're telling firms to put a freeze on hiring so they can hurt workers. These people are lucky there isn't a mob with torches and pitchforks making their way to their homes right now. The ultimate "let them eat cake" moment is right now.

[Calculating]

3. The rates did need to go up

And this correction in the market is actually healthy. The stock market practically doubled while COVID was occuring from all the stimulus and low rates, now it's just giving back the undeserved gains and going back to sanity. All of those tech stocks had way too high of pe ratios.

[former9thward]

4. Yes, please tell voters with their 401ks that their gains were "undeserved".

They will appreciate that as they go into the voter's booth.

[Calculating]

7. I'm just speaking truth here

The stock market had no business going up the way it did the last few years. We should've had a recession due to COVID, but the fed threw everything they had at the market to keep it going up despite a literal pandemic. Now it's time to pay the piper.

[Johnny2X2X]

5. GDP growth going negative is a much bigger concern for me than the markets

The economy shrunk last quarter when it was expected to grow. Now you have things kind of picking up momentum downwards.

Our economic leaders want a recession where people lose their jobs. That's what they prefer to the rich giving 1 penny back.