Inflation is a mixed bag, you can't make blanket statements about it at all. The only thing that is always bad for working people is an excessively high real interest rate as interest can only be paid through doing actual work. Companies pass their interest payments onto consumer prices meaning the top 10% are the only net recipients of interest.
Right, but at least they said they know there is a problem and they will address it.
It is not like how it is in Turkey where they said “inflation is high, let’s decrease it by printing far far more money and decreasing interest rate further”.
Have they? because last I checked they (both the Tresury, and The Fed) still insist that this inflation is transitory, supply chain issue not their monentary policy... (they investigated themselves and found they did nothing wrong)
And they are still claiming government spending trillions is not the cause, and will not create new inflation..
So no, I dont believe they have acknowledged the problem at all, nor are they really going to address is. Sure the fed says they will wind down their buying, and signaled they might raise interest rates VERY VERY VERY minimally, they are acting as if demand caused by supply chain issues is the root cause
I am not aware that US government is going to address inflation issues. Interest rate should at least match inflation that is 6.8% and that is not going to happen.
The Fed isn’t doing that because it’s an extreme change that would wreck the economy. Or at least, so many people believe. Why do you think you know better?