The Fed keeps raising interest rates. Working people are getting hammered | Robert Reich

Corporations are pushing up prices at the expense of Americans

Friday at Jackson Hole, Wyoming, Federal Reserve chairperson Jerome Powell said the Fed must continue to raise interest rates, even though it will bring some pain to households and businesses".

This - with all due respect - is nuts.

Robert Reich, a former US secretary of labor, is professor of public policy at the University of California, Berkeley and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. His new book, The System: Who Rigged It, How We Fix It, is out now. He is a Guardian US columnist. His newsletter is at robertreich.substack.com