Powel’s decision on interest rates is making the poor poorer, which gives ammunition to socialist candidates like Mamdani in their arsenal to bring down capitalism. For, high interest rates benefit those with means while those on the lower spectrum are hurt the most in their buying power. Many of these individuals live on credit which will continue to accrue until the Fed makes the right decision. Powel’s decision to keep interest rates this high makes it more difficult for those on their lower economic ladder to climb a bit higher with starting their own small business and/or own property. It’s time Powel see’s the light at the Fed or one in a nice retiring center in Florida.