Richarddwolff
@richarddwolff·355K subscribers·501 videos
The US Has Serious Economic Problems Featuring Richard Wolff
Posted
June 15, 2022
Views
15,475
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829
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94
Engagement
5.96%
June 15, 2022
15,475
829
94
5.96%
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11:56Now PlayingUntil two weeks ago, it was expected that the Fed would increase interest rates by no more than 0.5%. However, the rise today was 0.75% (that’s FIFTY PERCENT higher than expected). This is the largest single rise since 1994.
This will affect business investment and make borrowing money much more expensive, while the interest rate is designed to fight soaring inflation.
The US Has Serious Economic Problems. Everybody is pulling back, so is a recession likely?
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Professor Richard Wolff joined Thom to discuss the ramifications of the interest rate rise.
Bio: Prof. Richard Wolff is an Economist / Co-founder, Democracy At Work / Author of numerous books - his latest is The Sickness is the System: When Capitalism Fails to Save Us from Pandemics or Itself (also available as an eBook)
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