The Fed Has Made Zero Progress Fighting Inflation – Ep 847
The Peter Schiff Show Podcast
00:00
Why the Fed Hasn't Worked?
The Fed has raised interest rates, but not enough to bring them into positive territory. Paul Volcker in 1980 when short-term interest rates went all the way up to 20%. The highest inflation got was 13.5%. So you're talking 6.5% real interest rates. That encouraged people not to spend money because if they saved their money instead of spending it, they could buy a lot more later.
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