Economist Michael Hudson on inflation and Fed plan to cut wages: A depression is coming
Geopolitical Economy Report
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Introduction
The hosts introduce economist Michael Hudson and discuss the inflation crisis, criticizing the U.S. government and top economists for blaming inflation on wages and working people. They mention the statements made by Jerome Powell and Larry Summers, and discuss Professor Hudson's article on the Fed's austerity program. The chapter concludes with a question on the Federal Reserve's decision to increase interest rates.
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