Reading federal reserves answer to inflation is class war

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Reference no: EM133784456

Assignment:

Using the reading "The Federal Reserve's Answer to Inflation Is Class War" by Hadas Their, answer the following questions. all of the answers are available in the text. Answers should be no longer than one sentence, and some may be as short as one word. Each answer is worth 1 mark.

Please note that, for this exercise, the correct answer will be whatever appears in the reading. If you try to do a google search to find the answers, you might get them wrong! One hint I will give you is that you will find the answers in chronological order in the text, which is linked below:

1. How much did the average US commute cost in 2022?

2. What three costs hit workers the hardest in terms of rising prices?

3. Many people in the media try to blame workers' wages for inflation, but wages have grown how fast compared to prices?

4. How much of their money do lower-income families spend on basic necessities?

5. Joe Biden's 'laser-focus' strategy for dealing with inflation uses what tactic to cool the economy?

6. The 0.75% hike in the US Federal Reserve interest rate in 2022 was the highest single jump in how many years?

7. The 500 wealthiest companies are raising prices much higher than the actual rate of inflation. How much higher?

8. Since the 1970s, the Federal Reserve has tried to maintain what it describes as a _____ rate of unemployment. (We will return to this strange concept later in the course!)

9. According to the article, what is the primary cause of higher oil prices (which then lead to higher prices throughout the economy)?

10. What is one solution to the high cost of oil proposed by Hadas Thier (the author) in the article?

Reference no: EM133784456

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