Birdwatch Note Rating
2023-01-21 23:16:26 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 772ACC0C16F6C0EB6DC8E4560F7309D19ACE43B3373AD795D04BE80411FA2DCB
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.
All Note Details