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SsurebreC t1_j32l38d wrote

Reply to comment by Rote515 in US jobless claim applications fall to lowest in 14 weeks by AudibleNod

Fed explicitly said they are going to raise rates.

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LazyPiece2 t1_j32p0i6 wrote

Yeah, they said they aren't going to pivot in any way until there is a sustained decline in inflation down to 2%. And their original plan was to continue to raise rates.

Their goal is to kill the job market, though.

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Capt_Blackmoore t1_j335l6r wrote

i wonder if they are having a hard time contemplating that there's a million job openings out there right now - and we're probably short about 2 million possible workers due to Covid deaths, early retirement (because of Covid) and an immigration policy that simply was "No." for most of the last three years.

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LazyPiece2 t1_j3373pt wrote

I think they know very well what it’s going to mean. And they have tried to say it in a way that won’t scare people but I don’t think enough people pay attention. It’s going to hurt. But it’s also the only control that they have. There are other ways to fight inflation without it hurting as badly but that would require legislation and real regulation. And the country just put the GOP in control of the house so I mean we get what we deserve.

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fun__friday t1_j34nl2m wrote

They have targets for both inflation and unemployment. People have been hopeful that inflation is decreasing, so rate increases will slow, but job market numbers like this kinda make it unrealistic.

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halt_spell t1_j35kf6h wrote

Inflation already happened. Take a look at all the billionaires and trillion dollar companies. What they're trying to prevent is that money from bleeding out to the 99% where it will be used to pay off debt which the U.S. economy relies on in order to continue to exploit labor.

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fun__friday t1_j35oqhw wrote

As in their goal is to get inflation below X% and get unemployment rate above Y%. I don’t think either of these goals have been met yet.

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