Interest Rate Cuts Now Could Help Workers. But That's Not Who the Fed Serves.

The Federal Reserve's decision to maintain high interest rates is being criticized for negatively impacting consumers and potentially increasing unemployment while failing to align with inflation goals.

Progressive economist Gerald Epstein argues that the Fed is more responsive to wealthy interests than to the broader population, undermining its claim of independence as a government agency.

Despite steadily lowering inflation rates, the Fed remains hesitant to lower interest rates, indicating a disconnect between policy effectiveness and real economic consequences for consumers.

The persistent high interest rates are driving up housing costs and complicating debt repayments for consumers, revealing that the Fed's approach may be counterproductive to economic stability.

Read at Truthout