Officials are trying to understand why consumer spending, the job market and overall growth have not responded to the most aggressive interest rates in decades.
Officials are trying to understand why consumer spending, the job market and overall growth have not responded to the most aggressive interest rates in decades.
Another option to decrease spending is to increase taxes. That would of cause target the rich more, whereas increasing the interest rates is usually a benefit for the rich and hurts everyone else.
No wonder why increasing taxes instead of interest rates are never discussed to tackle inflation.