The 1970s crisis faced America at that time with a violent wave of inflation, and the main reason was the oil shock after King Faisal - may God have mercy on him - decided to stop exports to the countries supporting Israel in the October War of 1973.

He used to say (We lived, and our ancestors lived on dates and milk, and we will return to them, while they will return to the dark ages if we cut off their oil). He was speaking to the American minister at that time, saying (First, return to us Jerusalem, then we will talk).

At that time, the Federal Reserve reacted by lowering interest rates while inflation was raging, leading America into a painful stagflation, resulting in unemployment and living pressures that exhausted American families.

And as the king said, the American citizen truly suffered like an African citizen in Zimbabwe at that time.

So I believe that the Federal Reserve is well aware of this and does not take inflation lightly.

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