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It’s because the openly stated goal by the fed is to build up the reserve army of labor. The capitalist logic is that workers have it too good, and that’s why they refuse to work for in the conditions that the companies are offering. The solution is to create a lot of desperate unemployed people who will be willing to work in such conditions. That’s how the fed is fixing inflation in US right now.
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Here it is from the horse’s mouth https://www.cbsnews.com/news/fed-interest-rate-hikes-unemployment-increase-layoffs-inflation/
deleted by creator
Capitalist solutions are always cringe.