Pledging “pain,” Federal Reserve declares war on the working class / by Marcus Day

“Working Class Day of Action” Call for better living and working conditions (Photo: Elitsha) Originally published: World Socialist Web Site on August 27, 2022 In his speech Friday at the Federal Reserve’s annual summit in Jackson Hole, Wyoming, Federal Reserve Chairman Jerome Powell made one thing clear: America’s financial oligarchy is determined to make theContinue reading “Pledging “pain,” Federal Reserve declares war on the working class / by Marcus Day”

Report card on a failing economic system / by Greg Godels

On Friday, May 6, the Federal Reserve released data showing that consumer credit (debt) has been accelerating since the fourth quarter of last year, with revolving credit (largely credit card debt) speeding up at an even greater pace since the third quarter of 2021. Total consumer credit grew by an annualized rate of 7% inContinue reading “Report card on a failing economic system / by Greg Godels”