The Federal Reserve raises rates again. It is still not enough.

Op-ed views and opinions expressed are solely those of the author. The Federal Reserve just announced they raised the Federal Funds rate by another 25 basis points. That is the tenth increase since March 2022. While the Fed has a goal to bring inflation down to 2%, they were somewhat unsure about raising rates further. Higher rates reduce the value of previously purchased government bonds, which could lead to more bank failures. They should have raised rates more. After the shockingly irresponsible Monetary Policy which kept interest rates near zero...