Working Families vs. Oligarchs: An Interview with Lori Wallach

So, Robert.

Before we're joined by Lori Wallach and Peter Rickman, the Fed is meeting.

It is basically expected that they're going to raise interest rates for the first time under the Trump administration.

The last rate hike for our listeners was in July of 2023.

We're not talking about a huge rate hike, a quarter percent, but Robert, this has been something...

Trump has just been actively fighting publicly as much as possible to keep interest rates low.

But this will be the first time in his administration.

And Robert, just to finally send it to you, the economy, the inflation, the diesel prices, all this, it's...

It's at its sort of peak right now in terms of this.

So your thoughts on the Fed interest rates and action today and what it means.

Well, I know, Matt, you and our semi-regular guest, Dr. Mike Rosen, have been very critical of the Fed using interest rates this way.

But quite frankly, this is the worst solution except for all the rest, because Congress has abdicated its responsibility, and certainly the president has, to lead the economy.

And so the president has done many things to spark inflation when it was coming more under control post-COVID under Biden.

And this is just a partisan statement.

Democrats make all sorts of mistakes all the time.

We talk about them on Battleground Wisconsin all the time.

But just... fact that the whole world got harmed and shocked by the COVID economy and Biden was affected and it affected his politics.

But he had managed to generate a soft landing with the difference between with both what the Fed did and his fiscal policy, that is his huge investments in renewable energy and manufacturing and infrastructure.

And Trump has undone all of that.

And now it's going to be very upsetting to the dictator because the person he appointed because Kevin Walsh convinced him he would lower interest rates is going to start raising them, or at least certainly everyone thinks that.

In fact, it'll be upsetting to the shock market if they don't increase rates a quarter percent and then continue along the way in future meetings.

Well, yeah, Robert, I appreciate you highlighting that slight disagreement that we've had over the years, right? I find the whole undemocratic process of the Fed and all of this incredibly frustrating.

And I think us as progressives need to continue to agitate around this because where the hidden hand is, it is never good for working people.

We'll talk more about that, I believe, with Peter Rickman and Laurie Wallach, just to Quite frankly, this economy, this neoliberal economy and this trade regime has been awful for working people, not only here in America, but in lots of places.

But we'll dive more into that, Robert.

So, Robert.

Before we're joined by Lori Wallach and Peter Rickman, the Fed is meeting.

It is basically expected that they're going to raise interest rates for the first time under the Trump administration.

The last rate hike for our listeners was in July of 2023.

We're not talking about a huge rate hike, a quarter percent, but Robert, this has been something...

Trump has just been actively fighting publicly as much as possible to keep interest rates low.

But this will be the first time in his administration.

And Robert, just to finally send it to you, the economy, the inflation, the diesel prices, all this, it's...

It's at its sort of peak right now in terms of this.

So your thoughts on the Fed interest rates and action today and what it means.

Well, I know, Matt, you and our semi-regular guest, Dr. Mike Rosen, have been very critical of the Fed using interest rates this way.

But quite frankly, this is the worst solution except for all the rest, because Congress has abdicated its responsibility, and certainly the president has, to lead the economy.

And so the president has done many things to spark inflation when it was coming more under control post-COVID under Biden.

And this is just a partisan statement.

Democrats make all sorts of mistakes all the time.

We talk about them on Battleground Wisconsin all the time.

But just... fact that the whole world got harmed and shocked by the COVID economy and Biden was affected and it affected his politics.

But he had managed to generate a soft landing with the difference between with both what the Fed did and his fiscal policy, that is his huge investments in renewable energy and manufacturing and infrastructure.

And Trump has undone all of that.

And now it's going to be very upsetting to the dictator because the person he appointed because Kevin Walsh convinced him he would lower interest rates is going to start raising them, or at least certainly everyone thinks that.

In fact, it'll be upsetting to the shock market if they don't increase rates a quarter percent and then continue along the way in future meetings.

Well, yeah, Robert, I appreciate you highlighting that slight disagreement that we've had over the years, right? I find the whole undemocratic process of the Fed and all of this incredibly frustrating.

And I think us as progressives need to continue to agitate around this because where the hidden hand is, it is never good for working people.

We'll talk more about that, I believe, with Peter Rickman and Laurie Wallach, just to Quite frankly, this economy, this neoliberal economy and this trade regime has been awful for working people, not only here in America, but in lots of places.

But we'll dive more into that, Robert.