The Federal Reserve held interest rates steady on Wednesday and pushed out the start of rate cuts to perhaps as late as December as policymakers sketched out their view of an economy that remains virtually unchanged across its major dimensions for years to come. With growth and unemployment lodged at levels better than the U.S. central bank considers sustainable in the long run, Fed Chair Jerome Powell said policymakers were content to leave rates where they are until the economy sends a clear signal that something else is needed - through either a more convincing decline in price pressures or a jump in the unemployment rate.
luv 2 have an economy run entirely by "unemployment rate" and "inflation rate", two rigged indicators.
Well what do you know, nepo baby CEOs have full control over all of that.
: "Well it's MY reserve army of labor to sit on and do nothing with....and I just say the latest yacht so I'll just hike prices and give myself a nice raise. So sorry about the economy!"
I'm dumb, but at this point there should be new rules to be studied for economics.
We seemed to have decoupled "the economy" with general prosperity. The rich are richer than ever, but they're laying off workers left and right because 'we don't need that many', and the wealthy have been super concerned about their finances. Actual hiring is slowed to a crawl, and somehow we are able to not technically be in a recession because we can just say 'no we're not'.
I swear, there is no rhyme nor reason to late stage capitalism, it's economics calvinball.
