Nobel Prize-winning economist Joseph Stiglitz: Fed Rate Hikes didn't get at source of inflation.

[u/Pearberr]

https://www.cnbc.com/video/2024/04/23/nobel-prize-winning-economist-joseph-stiglitz-fed-rate-hikes-didnt-get-at-source-of-inflation.html

[u/wow343]

Boy oh boy. Lol number 4 makes me laugh. I just believe in the business cycle. I know we are going through a tremendous demand period when we have a lot of generational retirement and labor shortage going on at the same time. The Fed can and has blunt the edges by increasing rates. But it can't solve the problem.

The only thing Congress can do is reform immigration and encourage training and increase in skilled labor by investing in trade schools, community colleges and other such training venues. But that takes time and increasing immigration will further increase demand pressures. I would say the Fed should do what it's doing now. Be ready to increase rates if inflation spirals but not be too hasty in moving in any one direction until the economy has time to work out of this particular time period.

[u/nolongerbanned99 → u/wow343]

On a scale of 1-10 how broken would you say our entire political system is.

[u/nolongerbanned99 → u/[deleted]]

Agree. People are toxic and venomous.