Is there a chance that we get anoher Volker-Shock from the Fed raising interest rates? Since that was the way they deliberately induced a recession, and kept it going for a good while, making millions of americans umemployed and more precarious than ever.
Obviously raising the interest rate up to the same crazy level as what they did in the 1970's seems improbable, but I'll bet it also felt unlikely right up untill the point where the Fed actually did it. And the reacionary backlash the first time ushered in an era of Reaganomics, with disasterous impact on both the planet and the average worker in America.
Is there a chance that we get anoher Volker-Shock from the Fed raising interest rates? Since that was the way they deliberately induced a recession, and kept it going for a good while, making millions of americans umemployed and more precarious than ever.
Obviously raising the interest rate up to the same crazy level as what they did in the 1970's seems improbable, but I'll bet it also felt unlikely right up untill the point where the Fed actually did it. And the reacionary backlash the first time ushered in an era of Reaganomics, with disasterous impact on both the planet and the average worker in America.