Will the Fed’s plan work or leave us fed up?

Well, according to the newspapers, the Fed went ahead and did it: They raised interest rates by three-quarters of a percent.

What does that mean to you? Hundreds, or probably thousands of dollars down the drain if you’re carrying some credit card debt or have a variable rate mortgage, or if you need to buy a house or get a car loan.

The noble motive behind the Fed’s move — which to me  seems to benefit the bankers very nicely and hurt everybody else — was to bring inflation under control.

Inflating the cost of borrowing money is supposedly good because it will cause unemployment to go up (real people to

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