In 12 days the Fed could take your job away from you (or prevent you from getting a raise or cause your wage to drop, or your savings to shrivel). Why? Because several of its members think unemployment so low and the chance of inflation so high that they have to raise interest rates and slow the economy.
This is absurd. The percentage of the American population that’s working is more than three percentage points lower than it was before the Great Recession, suggesting we’re 3 to 4 million jobs below where we should be if the economy were healthy. This isn’t because of aging boomers. Even the employment rate of prime-age workers (ages 25-54) is down nearly the same percentage. That’s because millions of working-age people have given up looking for jobs because they can’t find any. But they’re no longer counted as being employed so the Fed doesn’t see them.
And inflation? What inflation? The Fed is officially committed to maintaining an average inflation rate of 2%. But inflation has averaged less than 1.5% over the past seven years and was just 1.3% over the past year.
The Fed’s inflation hawks are out of their minds, and their determination to raise interest rates when the Fed meets September 16 is lunacy. Please add your name to stopping them, by clicking here:http://bit.ly/DontRaiseRates.
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The TRUTH will set you FREE.
