US Fed Raises Interest Rates Another 0.75%

Image copyright: Getty Images [via New York Post]

The Spin

Republican narrative

While even Democrats like Elizabeth Warren continue to point out the Fed's failed interest rate plan, Jerome Powell is still pushing ahead despite the inevitable job loss it will cause. All the while, the White House keeps making empty statements about "stable and steady growth" as their constituents face a devastating economy.

Democratic narrative

Though many may not remember, the economic crisis of the early 1980s saw inflation even worse than today's, and it was interest rate hikes that brought it down. No one is at fault for Putin's war in Ukraine or the pandemic, but we all, unfortunately, have to endure temporary hardship to fight this crisis as quickly as possible.

Metaculus Prediction


Political split

LEFT

RIGHT

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