Powella Feda: Inflation Too High, Rates Gotta Go Up 🔼📈
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Powella Pahkull: Inflation Too High, We Ready Fo Raise Rates 🤑💸 Eh! Powella Pahkull, da Fed Chairperson talk ’bout inflation too high an’ dey ready fo raise rates. He say dat even dough progress been made wit’ economic recovery afta pandemic slow down, still da inflation rate too high fo comfort.
Da Fed be lookin’ out fa all us cuz if we no watch out an’ control it now den we gonna have big problems later on 🤔😬 Da speech kinda like wat he said las year at Jackson Hole when he warn us dat “some pain was likely as dey tryin ta pull back from runawa situation. An of course dis means higher interest rates 😩📈 Dat mean more money you gotta pay when borrow money or buy a house or car 👎👀 He also talk bout how people got less income durin pandemic cuz so many lose job ova dere. So even doh prices go up due to inflation (an dat’s bad), wages stay low cause lots peeps still unemployed ✊✊ But den again some companies start hirin’, but since there ain’t enough workers available yet so dose companies hafta raise wages ta get dem employees they need 💰❗️ Dis one good ting come from higher prices – more jobs open up!
An hopefully wage increases follow soon after ⏱⏳ All dis is part of what economists call da Phillips curve, which show relationship between unemployment and inflation rate ☝️☝️ It basically mean if one goes down da odder goes up (or vice versa). Right now both numbers pretty much stay same – unemployment go down little bit while price increase a lot ❗❗ So Powella suggest maybe its time fo adjust Phillips Curve jus right 👍👌 Den lastly he say it important to remember how economy work for everyone in society – not just certain group – otherwise inequality will grow bigger and bigger until nobody can afford anything anymore 😢😢 We gotta make sure everybody get benefit from economic growth equally k? Kewl ✅✅
NOW IN ENGLISH
Inflation Too High, Rates Are Up 🔼📈
Powell Powell: Inflation Too High, We Ready To Raise Rates 🤑💸 Eh! Powell Powell, the Fed Chairperson spoke about inflation being too high and they are ready to raise rates. He said that even though progress has been made with economic recovery after pandemic slowdown, the inflation rate is still too high for comfort.
The Fed is looking out for all of us because if we don’t watch out and control it now then we will have big problems later on 🤔😬 The speech was similar to what he said last year at Jackson Hole when he warned us that “some pain was likely as they try to pull back from runaway situation”. And of course this means higher interest rates 😩📈 That means more money you have to pay when borrowing money or buying a house or car 👎👀 He also talked about how people had less income during pandemic because so many lost their jobs over there. So even though prices go up due to inflation (and that’s bad), wages stay low since lots of people are still unemployed ✊✊ But then again some companies start hiring but since there aren’t enough workers available yet those companies have to raise wages in order get the employees they need 💰❗️ This one good thing come from higher prices – more jobs open up!And hopefully wage increases follow soon after ⏱⏳ All this is part of what economists call the Phillips curve which shows relationship between unemployment and inflation rate ☝️☝️ It basically mean if one goes down than other goes up (or vice versa).
Right now both numbers pretty much stay same – unemployment goes down little bit while price increase a lot ❗❗ So Powella suggests maybe it’s time fo adjust Phillips Curve just right 👍👌 Lastly he says it important remember how economy works for everyone in society – not just certain group – otherwise inequality will grow bigger until nobody can afford anything anymore 😢😢 We gotta make sure everybody gets benefit from economic growth equally k? Kewl ✅✅
