Birdwatch Note Rating
2023-01-21 17:52:15 UTC - HELPFUL
Rated by Participant: F6CBCCAF9A63AA147334235D105A0F483F6C7BD7519D2A68579D667F4321060A
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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