down my credit card debt and i m mad about what i m seeing? i get it. but what the fed is trying to do is say, we have to take this short-term pain for a long-term solution. the bigger question, is this going to give you a long-term solution? let s talk about what is actually causing the inflation. it s the fact that we still have supply chain issues because of lockdowns in china. it s because of the war in ukraine that s caused a huge increase in gas prices, in food prices, in lumber prices. so, us raising interest rates isn t going to change those issues out there, these global issues that are causing inflation, so that could be a very problematic situation. we raise rates but raising rates isn t going to lower gas prices. also we re going to thatter from the president and other administration officials later today about where they think things stand, where they re going with this. what do they need to tell people who believe this economy isn t working for them? i mean, it s ha
that means it will cost more to buy a house and cost more to borrow. unfortunately, that is how the mechanics of this works. the real positive to take away is, when you start to raise rates, the fear is businesses will lay people off and can t grow. that is not the case. businesses are hiring, hiring and hiring. what is the piece of this, the story covered day to day you think is missing from the broader conversation? what is the angle we are not talking about but should be? the fact this is good news. it is easy to say, look at gas prices, they are so high. guess what? look closer at gas prices, they re going down every day. that s right. gas prices are actually going down. to simply say, what is the administration doing, why is this a huge problem, when you look at the economy, all of this was caused by covid. yes, we are getting through covid but you still have supply- chain issues because of china. nobody predicted the war. that caused food prices to blowup, lumber prices t