91 Million out of the workforce. 21% unemployment. Sounds good enough for the bankers to raise interest rates!
Actually while NORMALLY raising rates in a collapsed economy would be insanity as it only collapses the economy MORE, Powell is making the right decision because the proper valuation of money should be 3-6% return. So the only way out of this mess is to keep gradually raising. But don’t believe the cheery “lowest unemployment ever” when the reality is its the highest. It’s just fudged numbers (see shadowstats.com for reality).
It’s a catch 22. Raising rates will increase the cost of our debt interest payments. But not increasing it will make our capital system sick with huge payola for speculators.
What SHOULD happen is cutting our spending alongside rising rates. By not cutting spending, Trump is dooming the nation.