Been thinking about this but I personally (coming from different background) that part of the problem is American consumerism. Corporations are just the crack dealer. Its the consumer who wants to spend. Unless we have a behavioral shift on how we think about money vs necessities, demand for goods and products will persist. I see my friends in my neighborhood who want to Buy the next mansion they don't need and brag about the 100K car they drive.
So the fed hawkish stance now is to question consumer with fear in mind if they do really that next expense they don't need because you know, there is a recession incoming 🙂
Please tell me if Im wrong:)
https://www.benzinga.com/economics/macro-economic-events/22/12/30070725/robert-reich-says-fed-putting-onus-of-fighting-inflation-on-wrong-group-its-bad-e
Anyone got access to this article?
https://robertreich.substack.com/p/the-fed-is-dead
His blog and website describe problem more in depth
submitted by /u/follow-spy
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