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pogchampnibba69420 t1_iyanv0h wrote

Reply to comment by [deleted] in I Called Jared Golden, Susan Collins, and Angus King today to express my support for railroad workers. I hope you call your reps, too! by Stunning_Ambition_16

Federal reserve caused inflation, not workers

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RelativeMotion1 t1_iybvchs wrote

Maybe I’m missing it, but it doesn’t seem like they implied causation?

Seems like they’re worried that a railroad strike would cause a temporary increase in cost, while inflation is already high. Which seems fairly reasonable, but is apparently controversial?

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weakenedstrain t1_iydl0t6 wrote

The controversial piece is that workers want quality of life, owners pulled in $20 billion last year alone. Owners like Warren Buffet can allow workers to have FOUR unpaid days off, instead they get ZERO days off.

It’s barbaric. Almost as barbaric as blaming the workers for choices made at the executive level.

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In_betweener t1_iyd9rwb wrote

Corporate profits caused inflation, not the reserve.

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pogchampnibba69420 t1_iydr0ob wrote

Quantitative easing policies of jerome powell caused everything bubble

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In_betweener t1_iydrvf1 wrote

we were on this path under Yellen...but its not either of them that is the cause.

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_Schneebley t1_iydsht3 wrote

Exactly, The Fed can only do basically 2 things, raise interest rates to curb inflation and purchase assets (and lower interest rates) during an economic crisis. Thats...it... They don't control spending, taxation, ect. They only control the money supply and provide liquidity to the market. Federal Reserve is only reactionary to what Capitol Hill is doing and the economy at large.

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