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Reply to "I genuinely don't understand these rate hikes"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Because there are demand-side problems that are responsible for a lot of this, interest rate hikes aren't going to solve inflation. But people are so freaked out by inflation that I suppose they are hoping it will help some. I'm old enough to remember when people bought homes and got student loans with much higher interest rates than we've been used to. But people have the memories of goldfish, and rich people hate the thought that they might not have as much wealth as they did before, so rate hikes it is. [/quote] Ok Bo0mer, those high interest rates were on balances exponentially lower than the prior low interest balances[/quote] Not even close to being a Boomer, but thanks for proving my point about people's lack of memory![/quote]
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