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Based on a talk by Sara Flounders to a webinar held on Feb. 18, 2024, Peace Delegates Report Back from China, organized by Friends of Socialist China and the International Manifesto Group. To see the webinar, go to tinyurl.com/2rv6njbj. With U.S. wars coming thick and fast, the best way to…
The chairman of the US Federal Reserve, Jerome Powell, said his goal is “to get wages down.” In a press conference on May 4, Powell announced that the Fed would be raising interest rates by half a percentage and implementing policies aimed at reducing inflation in the US, which is at its highest level in 40 years. But according to economist Michael Hudson, inflation is caused by corporate monopolies, not labour.