From Matt Stoller
https://www.thebignewsletter.com/p/how-the-federal-reserve-secretly
Looking at the Federal Reserve interest rate hikes and how companies like Consolidated Edison is using them to drive up costs passed to customers. Will we have a crash at some point?
@mhjohnson This article gets so much wrong from its fundamental assertions through its misrepresentations of things it's quoting. At that point, why believe its conclusions?
It starts with excerpts like this: "Hammack’s specific concern that too many businesses have pricing power, which is leading to excessive wage growth. She’s known as a monetary ‘hawk,’ which means her view is that the Fed needs to hike rates, and ultimately throw the economy into a recession so wages stop growing."
No, that's not how that works, that's not how any of that works.
