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The people you're drafting into the fight against inflation when you raise interest rates and slow the economy are the most vulnerable, the purpose of raising interest rates is to take the air out of the sails of the economy. If it works, you are, by definition, going to have fewer jobs. Even small increases in interest rates, if they have the desired effect, will cause job losses and wage losses.

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Robert Reich

Robert Reich

Robert Bernard Reich (born June 24, 1946) is an American politician, academic, writer, and political commentator. He served as the twenty-second United States Secretary of Labor, serving under President Bill Clinton from 1993 to 1997

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    "Robert Reich Quotes." Quotes.net. STANDS4 LLC, 2024. Web. 20 Apr. 2024. <https://www.quotes.net/citizen-quote/459697>.

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