The Federal Reserve just made another costly mistake that will hurt working families across America. Jerome Powell and his team cut interest rates by a quarter point, dropping them from 4.25 to 4 percent. This dangerous move puts politics ahead of sound money policy.
The Fed claims they had to act because of weak job numbers. But smart Americans know the real truth. The central bank is bending to political pressure instead of fighting the inflation monster that is still lurking in our economy.
Cutting rates now is like throwing gasoline on a fire. We already see prices rising at the grocery store and gas pump. When the Fed makes money cheaper to borrow, it makes everything more expensive for regular people who work hard for their paychecks.
This rate cut rewards big Wall Street banks and wealthy investors while punishing savers. Grandparents trying to live off their retirement savings just got slammed again. The Fed always helps the rich while leaving Main Street Americans behind.
Powell keeps making the same mistakes that caused our inflation crisis in the first place. He printed too much money during the pandemic. Now he wants to do it all over again instead of learning his lesson.
Real conservative economists warned against this foolish decision. They know that keeping rates higher protects the dollar and fights inflation. But Powell would rather please politicians than protect American families from rising prices.
The stock market might celebrate today, but working people will pay the price tomorrow. When inflation comes roaring back, remember who opened the floodgates. The Fed chose Wall Street over Main Street once again.
Americans deserve sound money policy that protects their buying power. Instead we get more reckless spending that will make life harder for everyone who plays by the rules. This rate cut is bad news for hardworking patriots who just want a fair shake.
