On the US economy

On the US economy: It s a contradiction in the neoliberal monetary policy. They need to raise rates to do something about inflation. It s relatively ineffective at the certain current level of 5 to 6 interest rates to really dampen inflation very much, especially in services. But the more you hit 6 and above, the more you re going to create interest rate risk and destabilize the banking system, which is already just hanging in there, being forcefed 400 or 500 billion so far from the Fed to keep it afloat. So it s a big contradiction here, Dr. Jack Rasmus, professor of economics and politics at St. Mary s College in California, told Sputnik. Listen to more of Rasmus analysis in our podcast The Critical Hour Источник: Geopolitics Live t. me, geopoliticslive