The Fed didn’t do that – American tech workers did. They created millions of good-paying tech jobs which allowed Americans to be able to afford rising prices.
In 1998 the US had:
- No homeless
- No drug problem
- A tax surplus
- The biggest economic expansion in US history
- Tens of millions of good jobs.
- A booming economy, and a happy, prosperous public.
So what did the Fed and Mr. Greenspan do?
They increased H-1B visas, let India Inc cheap labor trafficking staffing companies in to drive down wages, and offshored most US industry.
Now America is massively in debt, has inflation, tens of millions of homeless, and a generally wrecked economy.
These criminal market-rigging bankers have to cover up for their crimes, and that is exactly what this article is.
$1 at Walmart is too much for a product if you don’t have a job.
vox.com/policy-and-politics/2022/12/15/23508155/federal-reserve-inflation-recession-soft-landing