Birdwatch Note Rating
2023-01-27 14:12:07 UTC - NOT_HELPFUL
Rated by Participant: E1A93EE7CB069C886EA7F76CFCC675B0923768D1AD5F967B3AFC30A16A90845A
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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