Satire
Let’s Print More Money
Because no one is coming to save us, except ourselves
When the Federal Reserve raises interest rates in an attempt to halt inflation, that’ll only make things worse.
Personally, I side with Nobel-winning economist Joseph Stiglitz when he says:
“Raising interest rates is not going to solve the problem of inflation. It’s not going to create more food. It’s going to make it more difficult because you aren’t going to be able to make the investments.”
Raising interest rates would simply make it more expensive and more difficult to borrow money. As a result, the Federal Reserve would inadvertently cause greater harm to the US economy.
Can you imagine going to the dealership to purchase a new Tesla — a selfless act of kindness to save the environment and thwart the climate crisis — but find out you have to pay a 24.3% APR for the car loan?
Or, what if you need to take out a mortgage to buy a second mansion (like me) but the interest rate is 18.45%? You’re already being priced out of the market, and now you’ll be paying even more for your vacation home in the Hamptons.
