- cross-posted to:
- economics@lemmy.world
- cross-posted to:
- economics@lemmy.world
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Though Powell didn’t name it, he was clearly referring to “stagflation: slow GDP growth, high inflation, and high unemployment. The Federal Reserve refused to cut interest rates on Wednesday, as Powell described the concerns with Trump’s economic plans.
stagflation benefits the rich
I’d be hard-pressed to find an economy other than socialism that didn’t, and gestures at everything in actual practice by actual humans, maybe not that. Barter maybe.
stagflation only hurts those who are not rich
