It is interesting to watch the media and politicians squabble over the inflation situation. We have had many come on telling us that inflation is getting better, it isn't so bad, maybe we need to adjust our standards and aim for higher inflation each year, why does anyone even care about inflation? Who needs stable prices in business and in life? Never mind the cost of living if you can someone figure a way to continually increase your income to go right along with it and if you can't it must just be that you aren't working hard enough you will find some critics say.
People have been vocalizing that pain for months now calling out the stupidity of central banks to continue with rate hikes, but they continue to go in that direction regardless of what people want or say. They continue to repeat the need to tackle inflation and have recently suggested that we might not be ready anytime soon to start going in the other direction. That's bad news for many.
People have been calling for a stop to the interest rate hikes for quite some time now but that appears to be landing flat and the FED doesn't seem like it is going to cater to those requests anytime soon based on their recent indications of a pressing need to address inflation still.
What is it going to finally look like when that job is done? Powell has indicated he is strongly committed to fighting inflation and seems just as passionate as they first started on this fight. How high are they going to go? Is it going to cause more problems if they continue to go higher? Do they care? Surely they know what's best for the ship and are steering it into the right direction no doubt.
Pics:
pixabay
This is not financial advice.
Sources:
https://www.cnbc.com/2022/09/20/the-fed-is-now-expected-to-keep-raising-rates-then-hold-them-there-cnbc-survey-shows.html
https://www.cnbc.com/2022/09/08/fed-chair-powell-vows-to-raise-rates-to-fight-inflation-until-the-job-is-done.html
