The Fed’s solution to record inflation is based on flawed logic, and US government policy is only compounding supply issues.
The US economy shrank by an estimated 0.9 percent in the second quarter of this year, the second quarter in a row that saw a contraction, which is, according to the Oxford English Dictionary, the definition of a recession. In response to these worrying figures, the White House has sought to downplay fears by calling the decline “no surprise” as the economy slows down in response to Federal Reserve interest rate hikes.
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