Why the Fed Waited So Long to Raise Interest Rates

Los Angeles CA

Description

By keeping interest low, people are more tempted to borrow and borrow and borrow to buy mostly crap that don't need and can't afford. Borrowering to buy a house or newer car is fine because those are very necessary. But most the debt is from buying expensive products like junk from Amazon or expensive new clothes from Macy's, new living room or maybe bedroom furniture, fancy parties and resturants, vaccations, etc. Living far beyond their means. I say if you don't have the money you shouldn't be buying these things. But the credit card companies/ the banks want everyone to continue to borrow and spend, borrow and spend so that everyone is in debt to them forever. And the totally corrupt Fed which really works for the central banks not us has helped them accomplish this. They are delighted with inflation because it means people and the government have to borrow more and more and more to keep up with inflation. It's win win for them and lose lose for us. And people have to understand the ONLY thing our government / politicians care about is helping the rich get richer and helping the banks as well so they can get their finacial favors. All the Fed had to do to stop the hyper-inflation was raise interest rates back in early 2021. Both the Fed and our corrupt government want the inflation to continue to increase. This gives our government an excuse to dump more and more trillions into the economy which is causing mass inflation. But since the filthy rich all own lots of assets it helps them get richer and richer. If you think Biden is really concerned about the hyper-inflation then you're a fool. He could stop it with a snap of the finger, just insist the Fed increase interest rates immediately. But since the ONLY people that matter in this country are the filthy rich he's not about to do that.