Fed insider: Supposed reason for interest rate hike is inconsistent with the facts

What do we look for as a sign that the American economy is in serious trouble?

Glenn Beck asked Danielle DiMartino Booth, author of “Fed Up: An Insider’s Take on Why the Federal Reserve is Bad for America,” on Wednesday’s “The Glenn Beck Radio Program.”

The economy is supposedly going so well that they are raising interest rates, but should we believe Federal Reserve chair Janet Yellen?

“Things have gotten worse,” Booth said.

William Dudley, president of the Federal Reserve Bank of New York, said this week that the Fed is raising interest rates to keep the U.S. unemployment rate from “crashing” and damaging the economy.

Booth dismissed that idea, explaining that wage growth hasn’t kept up with inflation, so people don’t have enough to live on even if they are employed.

“We wonder why people are driving Uber at night. There’s a reason,” she said. “Their wages aren’t growing. Their paycheck has barely moved and not kept up with inflation.”

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