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Wall Street, we have a problem. (lemmy.world)

submitted 1 day ago by Loduz_247@lemmy.world to c/whitepeopletwitter@sh.itjust.works

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[–] 10001110101@lemm.ee 3 points 11 hours ago

I doubt they'd do any fiscal spending through safety nets, since they are dismantling them; I suppose bail-outs could be on the table. I've seen some analysts/economists claim that the Trump admin wants to devalue the USD to grow the manufacturing sector, and the admin seems to be pressuring the Fed to lower interest rates. The consensus seems to be that stagflation is what's actually going to happen. I don't quite understand why the admin wants to bring back manufacturing sector, because they're typically low-wage jobs (especially if not unionized), and unemployment was pretty low. Among the billionaire class, there seems to be a concerted effort to shed decent-paying jobs, so I guess the plan is for those people to go work on assembly lines.