Kennedy recently stated that the Fed may need to increase the interest rate to 8-10% to address the country's inflationary pressures. Economics Inflation
that Federal Reserve chairman Jerome Powell will have to raise rates much higher than usual if Congress does not slow down its stimulus spending.the benchmark bank rate by 25 basis points , marking the tenth consecutive rate hike and bringing the rate to its highest level in approximately 16 years., calling for president Biden to have a serious conversation with House speaker Kevin McCarthy about how to allocate resources and reduce inflation.
Senator John Kennedy also addressed concerns about the U.S. banking industry, warning that modern technology can quickly turn a small disturbance into a full-blown panic. According to Kennedy, banks today rely heavily on trust, and are far less fortified than they used to be. In fact, Kennedy went so far as to compare modern financial institutions to pyramid schemes, stating that they are essentially “sophisticated Ponzi schemes.
“They’re really just … and don’t take this the wrong way … sophisticated Ponzi schemes,” Kennedy emphasized.that the country could face a potential default on its debt limit in June, which could have dire economic and financial consequences. With the United States currently carrying a staggering $31 trillion in debt, the stakes are high.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The 10 Very Best Trash Cans“Does anyone want to see what gets thrown away in the bathroom?”
Read more »
Photographer Spends 10 Years Paying Homage to Dolly PartonA Dolly Parton concert 20 years ago led to a lifelong obsession for this photographer.
Read more »
The 10 Cheapest 500-HP Cars You Can Buy: Sub-Six-Figure FunYou have to pay to play if you want a 500-HP car, but these models will bleed your bank account just a little less than you'd expect.
Read more »
Tour 10 mind-bending supermassive black holes in this NASA videoA new animation shows how these cosmic monsters compare to other cosmic objects, and to each other.
Read more »
Jill Biden in UK for King Charles’ coronation, visits No. 10President Joe Biden has dispatched his wife to represent the United States at Saturday’s coronation of King Charles III, the late queen’s eldest son.
Read more »
Jill Biden in UK for King Charles' coronation, visits No. 10First lady Jill Biden is in London for the coronation of King Charles III
Read more »