The Federal Reserve raised its interest rates by three-quarters of a percentage point – in an effort to fight back against inflation. But the question is, what kind of effect will it really have?
Joel Griffith, an economic expert for the Heritage Foundation, explained to The Center Squad, “The Federal Reserve’s complicity in financing Congress’ outrageous spending spree of the past two years is largely to blame for the sky-high inflation, the new housing bubble, and rampant speculation [in] the financial markets.”
George Selgin, who serves as a financial expert for the Cato Institute, was more stern with his wording against the Reserve. “The fact that the Fed is now contemplating a large (75 basis point) rate hike is an unfortunate consequence of its having failed to start tightening gradually last fall, when numerous indicators suggested the need for it to do so. By delaying, the Fed allowed both actual and expected inflation to worsen. Like a driver who fails to apply the brakes as soon as an obstruction comes into sight, the Fed must now ‘slam the brakes’ on money growth, thereby subjecting the U.S. economy to a correspondingly more severe case of whiplash.”
Speaking to us now about the potential rate hike is a representative from Birch Gold, whose expertise on financial matters is insightful for a conversation such as this.
Q&A:
- Do you believe Mr. Selgin is right in terms of the Federal Reserve waiting so long to do something on inflation? Should this have been done sooner to keep gas and housing prices down? Or was it inevitable?
- With the rate hike, do you believe inflation will become worse before it gets better? Could we see gas prices rise to even bigger highs as the summer goes on?
- How will this affect Americans, especially heading into what could be a potential recession in 2023?
- Is a rate hike the answer here? Or can the Federal Reserve and/or government do anything to stop inflation from growing at such a rapid rate? Or is it too little, too late?
- Birch Gold Group is a company that specializes in tangible assets, including gold and silver. In the face of what’s happening with the rate hike, is it still a good idea to consider investing in these materials?
- Where can we learn more about Birch Gold Group, gold IRAs, and other services provided by Birch Gold.
- You can visit https://www.birchgold.com
About Former Congressman Ron Paul:
Dr. Ron Paul is a former Republican congressman from the 22nd congressional district of Texas. Ron Paul espoused strong conservative and Libertarian positions, including maintaining a fiscally responsible government. Before his involvement in the political arena, Dr. Paul was a physician. He is active as a writer and spokesperson for organizations representing his core beliefs, including honest money. He is currently conducting a media tour for Birch Gold Group.
About Brett Winterble:
After spending nearly a decade with Rush Limbaugh as a Producer, Brett Winterble began his own show in 2008.
Brett currently hosts The Brett Winterble Show, heard Monday through Friday from 3-6 pm on News Talk 1110 & 99.3 WBT in Charlotte, North Carolina. Prior, Brett was heard on Sirius XM, plus 980 KFWB in Los Angeles and 760 KFMB in San Diego.
A lover of Current Events, Sports, Entertainment, and stories that really matter to the local audience, Brett has high energy and boundless curiosity.
He is a graduate of Emerson College and American Military University with degrees in Political Communication and Homeland Security/Intelligence Studies. Brett is married and has 2 teenagers plus a couple of cats, three birds, and some fish. His hobbies include travel, comedy writing, consuming motorsports, and barbecue.
CONTACT: Jerry McGlothlin of Special Guests 919-437-0001 jerry@specialguests.com
