U.S. Federal Reserve Board Chair Jerome Powell recently declared that the road back to economic health is to be filled with higher interest rates than most might be expecting. “We raised rates very quickly last year, and we know that monetary tightening policy has delayed effects; it takes a while for the full effects to be seen,” he said.
He infused more confidence in the market when he added, “We have many unusual factors, and I don’t think anybody knows with confidence how this is going to play out.”
Powell promised indirectly that eventually we will all benefit with the Fed’s decisions to dramatically raise rates while the government continues to spend trillions funding Ukraine and Woketarian causes (as reflected in their baby green new deal).
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Paul Collier
Paul Collier is the editor of The Freedomist newsite, our Weekday Reports, and our Monthly Publication, Freedomist Intelligence Advisor (previously McAlvany Intelligence Advisor). He has been involved in news publishing since 2003.
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