Oct 19, 2022
Lauren Elizabeth, this is NOT the case. By raising the prime rate, the Federal Reserve slows down the spending in the economy, which puts brakes on rising prices which is REALLY crushing, particularly in rent -- and education is a big one (the extra fuel cost for our cars pales in comparison).
A recession hurts because of lost jobs, but high inflation is ENORMOUSLY damaging, especially to those without assets carried by the inflation wave.