I missed this story when it came out about a week ago, but I thought it was worth briefly commenting on considering how shitty the economy is.
Point blank, the Federal Reserve is laying off workers. They announced that 300 workers would lose their jobs this year.
The U.S. Federal Reserve system is cutting about 300 people from its payroll this year, the first time since 2010.
— unusual_whales (@unusual_whales) September 22, 2023
🚨🚨“Even as [the] Federal Reserve Chair reassures the public about the state of the U.S. economy, the organization is quietly laying off workers at its own doorstep”
Would you look at that—the economy is so strong that the Federal Reserve is laying off 300 employees.… pic.twitter.com/vX0FWPBEdl
— Rep. Mike Collins (@RepMikeCollins) September 22, 2023
Keep in mind that the Fed is the central bank of the United States. It was given the authority by Congress back in 1913 to create money out of nothing. If the entity that creates money out of nothing is firing workers, that should give you an indication of how fucked the economy is.
I see no positive economic developments anywhere in this economy. It is all very negative. We have rising gas prices, rising food prices, out of control inflation, rising interest rates, mass layoffs, a collapsing real estate market, skyrocketing credit card debt etc.. The Fed’s fake money system along with all the out of control government spending are the two big sources of these economic problems.
