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There Are Better Ways for Societies to Address Inflation Than by Hiking Interest Rates

A deafening silence defines “debates” among U.S. leaders about stopping or slowing today’s inflation. Alternatives to the Federal Reserve’s raising of interest rates and curtailing money supply growth are ignored. It’s as if there were no other ways to…

A deafening silence defines “debates” among U.S. leaders about stopping or slowing today’s inflation. Alternatives to the Federal Reserve’s raising of interest rates and curtailing money supply growth are ignored. It’s as if there were no other ways to rein in price increases except to add more interest costs to the already excess debts of workers and small and medium businesses. Were the last two and a half years of the deadly COVID-19 pandemic plus the economic crash of 2020 not sufficient enough burdens on Americans without piling on the additional burden of inflation that has been imposed by U.S. capitalism? More

The post There Are Better Ways for Societies to Address Inflation Than by Hiking Interest Rates appeared first on CounterPunch.org.


This content originally appeared on CounterPunch.org and was authored by Richard D. Wolff.


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