re: CNBC: Fed again approves 0.75-point hike in response to rapid inflation

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Caused by the Fed itself pumping money in the system all last year and Biden spending 3 trillion after inflation was rising. All self induced by incompetents!

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The Fed made an enormous mistake by keeping interest rates historically low for about a decade, and the consequences of that mistake were then exacerbated by politicians wrecking supply chains and pumping out stimulus, most of it unnecessarily, from 2020 through early 2022.

I will say this for the Fed. They are owning their mistake and taking unpopular and painful steps to correct it. Jerome Powell is basically destroying any remaining goodwill he has with politicians and the public, which is his job in the current moment.

The same can’t be said of our nation’s elected leaders, who are attempting to cram every additional dollar of spending they can into an economy that is drowning in cash (or at least was up until very recently), just because it is politically expedient to do so.

I don't know what people expected.