The cost of another rate hike will be paid by workers in the form of higher unemployment and lower real wages, Gustavo Indart writes.
  • EhForumUser@lemmy.ca
    63·
    1 year ago

    Higher interest rates are the tough medicine we do need today to combat inflation.

    Rising interest costs were responsible for 30% of the CPI growth as of the latest figures. Higher interest rates will only send inflation higher. Interest rates are now what is driving inflation. Excluding interest costs, CPI is already back in the 2% target range.