Alternative Visions - When the Fed Raises Interest Rates…Déjà vu Another 1981-82 Recession?

Dr. Rasmus discusses the widespread narrative in the business media that the Fed will start raising interest rates rapidly next month in March. The argument of mainstream economics is that rate hikes will cool down accelerating inflation (7.5% at latest official report—but really 10% or more).  Rasmus explains Fed rate hikes can only impact Demand but current inflation is a combination of Supply problems and monopoly like corporations price gouging. The latest CPI inflation report is discussed, as well as why Fed rate hikes (now predicted at 7 just in 2022) will likely precipitate a major slowdown of the real US economy in 2023 and possibly provoke a financial instability event thereafter as well. The effect of aggressive Fed rate action will also negatively impact global currency markets, Rasmus argues, as the US dollar rises sharply in value in wake of rate hikes. Emerging market economies therefore will experience the negative impacts as well. So why is there consensus that the Fed is the only solution to inflation at this point? And is there another solution? And why is it being ignored?