Janet Yellen Warns Against Government Shutdown

I for one am glad that the Fed is keeping the interest rates where they are; we are still nowhere near full employment, we need to stay the course until wages get the bump they should get when employers must compete for hires, that is what a healthy, productive economy is all about. I still don’t understand why the powers that be are so intent on raising the interest rates, inflation hasn’t gone over 2%, most likely it is the bondholder, the heavy investor who is dying for interest rates to increase so that their wealth increases. My take is the Fed has already done more than enough for the 1%, how many cycles of quantitative easing has the Fed unleashed? Aren’t we up to QE5 by now? If the working people of America get anything from the Fed, let it be this, we need as much leverage as we can garner to try to build back everything we had lost. Since we don’t have unions in the private sector anymore, we need to pressure whatever government agencies out there, who may be able find ways to get employment to levels that are sustainable for our economy and thus our society. An economy grown from the bottom up means that poverty declines, an economy built on the premiss of trickle down benefits just grows poverty while the top percent get richer. Which is why we need the Fed to work for us for a change, we need for our employment situation to get back to full employment and higher wages, and it shouldn’t be an issue, not if you truly want our economy to be successful.
I realize that Janet Yellon said that the upcoming fights brewing in congress, whether it is the debt ceiling or defunding Planned Parenthood did not figure into the decision made by the Fed. She pointed to external factors looming on the horizon such as China’s economic volatility, the enduring recession in Europe and the migrant crisis, but I  can’t shake the feeling that our congress adds to the financial uncertainty that the Fed sees in the world. I don’t see how our government won’t shut down, Planned Parenthood is an organization that does so much for both men and women, they should not be defunded, it would be a tragedy for millions of low income people. We shouldn’t forget that shutting down the government costs us a lot of money and for the party that likes to think of themselves as financially conservative and prudent, it is everything else but, when they shut the government down last time. I hope that some in that party will see reason instead of pure ideology.

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