Reported 4 months ago
The article discusses how high interest rates in the US are benefiting the wealthiest Americans, leading to economic growth but making it challenging for the Federal Reserve to implement desired rate cuts. Data from the Conference Board shows that high rates are boosting confidence among wealthier consumers, contributing to inflation and making it difficult for the Fed to address price pressures. The situation highlights the regressive nature of monetary policy and the disconnect between economic data and public perception, with many Americans feeling the economy is in recession despite evidence of growth.
Source: YAHOO