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I’m sick and tired of hearing analysts, economists, corporate executives and those they’ve convinced claiming that we don’t have enough unemployment and need more to reduce inflation. It happens that one federal agency is charged with dealing with inflation, the Federal Reserve Bank. It can’t directly lower inflation or the costs of food, fuel or health care. It’s main tool is to slow the entire economy by raising interest rates – which throws people out of work in order to reduce demand for goods and services and force business to cut back. So following the Fed, analysts take the easy way and focus on the one solution that makes unemployment a deliberate policy.
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The Federal Reserve is looking to tame the worst inflation since the 1970s, raising its benchmark short-term interest rate Wednesday and signaling up to seven rate hikes this year. The Fed’s quarter-point hike in its key rate, which it pinned near zero since the pandemic recession struck two years ago, marks the start of its effort to curb the high inflation that has followed the recovery from the recession. WAMC’s Jim Levulis spoke with Hugh Johnson of Hugh Johnson Economics about the effects of the hike.
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Economist Hugh Johnson details his 2022 economic outlook
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The Federal Reserve is holding its latest policy meeting Wednesday amid concerns over inflation and employment figures missing expectations. WAMC's Jim…
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Does everyone know what THE FED is? It is the United States Central Bank. --- the official name is the Federal Reserve System. (The “system” consists of…
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The Federal Reserve cut its benchmark interest rate yesterday for the second time this year while saying it's prepared to continue doing what it deems…
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WAMC's Dr. Alan Chartock discusses President Trump's response to his national security team's testimony in the Senate, and reports that the Federal…
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Listeners may be forgiven if a July 21 article in the New York Times has been long forgotten. However, for this economist, the topic -- Trump’s complaints…