Wasn’t it just revealed that the BLS/Census lied about the decreasing unemployment rate for the 2012 presidential election?
And how will the federal government pay its loan interest if the Fed hikes the rates?
Fed gov can implement financial repression. If interest rates must go up to prevent the US dollar from losing its world reserve currency status, then the Fed short falls will be financed by American citizens via financial repression. As the Fed cuts back its purchase of T bonds and no foreign/private investor steps up to buy it, to prevent the rates from shooting up too fast, the Fed gov will mandate a portion or all of fed gov pensions will buy T bonds, and private 401k/IRA must invest a portion of its contribution or accounts to T bonds. IAW US private citizens one way or another will be forced to buy T bills with part or all of their pensions. The other option is to let the interest rates soar and implode the fed/state/local gov. The elites and statists will not let that happen. DHS/IRS is well armed to enforce such laws.