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Two Cents
How High Interest Rates Upended the Economy
Season 7
Episode 2
Unless you’ve been living under a rock, you may have noticed prices on the whole started to rise in response to the pandemic causing inflation. There was a similar hike in inflation back in the 80’s. In response, the government raised interest rates quickly and severely causing the nasty side-effect of a crippling recession. After peaking in June of 2022 at 9%, inflation plummeted back down to 3.
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