Birdwatch Note Rating
2023-01-21 15:46:18 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 8259FBF12268987C583D1AB569D227FDB3AC3304A5AAC984E238767677F2C921
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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