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The Guardian - US
The Guardian - US
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Robert Reich

RARE PHOTOS: The fed needs to stop raising interest rates | Rare Historical Photos

‘The government should use other means to tame inflation. Like what? Windfall taxes.’
‘The government should use other means to tame inflation. Like what? Windfall taxes.’ Photograph: Brendan McDermid/Reuters

The Fed is meeting on Tuesday. This week, presumably, it will announce that it’s raising interest rates once again in its continuing attempt to stem inflation by slowing the economy.

But shouldn’t it be obvious by now that higher interest rates aren’t doing the trick?

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