Hello everybody and thank you for tuning in to the weekly report.

The Federal Reserve, enemy of American workers.

According to numbers released by the U.S. government, consumer prices have increased by

7.5 percent in the past year.

The steepest increase since 1982.

The actual price increases are even worse than the government numbers suggest, given

that the official statistics are manipulated to understate the real rate of price increases.

According to John Williams of Shadowstats, prices have actually increased by around 15 percent

over the past year.

The fact that prices remain at historically high levels shows that inflation is far from

transitory, as Federal Reserve Chairman Jerome Powell had described it.

The continuing inflation has led the Federal Reserve Board to suggest the Fed will start

increasing interest rates earlier than previously announced.

The Fed may also break with its practice of only raising rates by 25 basis points at

a time and increased rates by increments of up to 50 basis points.

However the increases the Fed is discussing would still leave interest rates at historic

lows.

Thus, such interest rate increases would do little or nothing to ease the pain rising prices

caused for average consumers.

Most policy experts and politicians, including President Biden, support interest rate increases

to deal with inflation.

However, opponents of rate increases fear that increasing interest rates will slow economic

...