Birdwatch Note Rating
2023-01-21 17:22:13 UTC - HELPFUL
Rated by Participant: 5FD1D81F3B290C93EC12583B7317A75D406671615ACDB9862205836B10443B5C
Participant Details
Original Note:
Tech companies laid off due to high expenses thanks to inflation and interest rates hikes by the FED. FED main job is to curb inflation, one way to do that is by rising interest rates. One of the outcomes is an increase in unemployment. https://www.forbes.com/sites/jonathanponciano/2022/11/02/fed-chair-jerome-powell-haunted-by-the-ghost-of-paul-volcker-could-tank-the-economy/?sh=767772064e14 https://www.stlouisfed.org/publications/regional-economist/january-2005/volckers-handling-of-the-great-inflation-taught-us-much https://www.cnbc.com/2023/01/18/tech-layoffs-microsoft-amazon-meta-others-have-cut-more-than-60000.html#:~:text=The%20tech%20industry%20has%20seen,rising%20inflation%20curbs%20consumer%20spending.
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