The Federal Reserve has raised interest rates dramatically over the past year, increasing the cost for loans for homes, autos, and nearly everything else. This has been done, we are told, in order to fight inflation, which is certainly important.
But for 6 months now, inflation has been way down, with the monthly rate near zero. And yet, the Fed continues to raise rates, threatening to push us into a recession.
Raising rates may have made sense when they were near zero, and inflation was spiking, but it makes no sense to crash the economy when inflation has already largely disappeared.
Add your name, and tell Fed Chair Jerome Powell: Don't Drive Us into a Recession with Too Many Interest Rate Hikes
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