The Fed’s interest rate hike cannot possibly do anything but make the current situation worse. We’d all be better off had they done nothing. First do no harm.
Just while things are getting more expensive due to a recent pandemic and a war, let’s raise interest rates in the hope that corporations will fire a bunch of you from your jobs so that you won’t be able to buy necessary things – resulting in the economy going into a slump where even more people lose their jobs, ultimately driving the price of things back down because nobody can afford to buy stuff anymore. And that’s supposed to make things better for us all?
Source: Forbes The Fed’s Interest Rate Hike: Salt In The Wound?