The Intercept has a recent article: Stock Market Swings Tell Everything You Need to Know About Our Rigged Economy
The recent Dow Jones fluctuations have very little to do with a legitimate fear of inflation. The stock market panicked largely because CEOs and shareholders fear that they’re losing their upper hand over a workforce that’s cutting increasingly into their record profits. The Fed’s response to that may well be worse for the average American than anything that happens on the floor of the New York Stock Exchange: It may throw workers who are already hurting under the bus in the name of a stopping something — inflation — that’s nowhere to be found. There’s an outsized chance it could even trigger another recession, as more dramatic rate hikes have been known to do in the past.