The Inflation Cure

Source: RealClearPolitics
by Betsy McCaughey

“Last week, the Federal Reserve raised the interest rate on money it lends to other banks by .75%, the biggest hike in three decades. Fed Chair Jerome Powell said the hike is necessary to rein in skyrocketing inflation. He’s planning more hikes in the coming months. These hikes will lead to increased interest charges on credit cards and higher rates on home equity loans, car loans and mortgages. It’s a punch in the gut for people who need to borrow. … The Fed has no choice but to act. In fact, it waited too long. The Fed’s mission is to maintain price stability and full employment. Inflation hit a 40-year high in May.” (06/22/22)

https://www.realclearpolitics.com/articles/2022/06/22/the_inflation_cure_147782.html