David Feldman
@davidfeldman·310K subscribers·6.4K videos
The Fed Declares War On People Who Rent #JeromePowell #TheFed #InterestRates
Posted
October 7, 2022
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3:49Now PlayingFed Chair Jerome Powell is declaring war on people who rent by raising interest rates. The dirty dark secret is one third of inflation, as measured by the Labor Department, is what people pay in rent. Raising interest rates will exacerbate the housing shortage, driving the cost of rent up. It will also make owning apartments more expensive which means landlords will pass along the higher cost of money to renters. This spells disaster for the working poor since half of all Americans who rent live at or below the poverty line.
Jerome Powell doesn't have the tools to combat inflation. He can only drive down wages and drive up the cost of rent.
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