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Lula criticizes interest rates, blames them for unemployment

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President Luiz Inácio Lula da Silva on Monday reiterated his criticism of the Central Bank’s interest rate policy, linking it to unemployment in the country. He also criticized the radicals who participated in the vandalism acts of January 8 in Brasilia and said that anyone who tries to "stage a coup" will be arrested.The Labor Day event in São Paulo was marked by criticism of the Central Bank, former president Jair Bolsonaro, and Bolsonarism. Mr. Lula said that the interest rate was partly responsible for unemployment. "We can no longer live in a country where the interest rate does not control inflation. It controls unemployment because it is responsible for part of the situation that we live in today," said the President at the Central Press Conference.The discourse critical of the interest rate and the president of the Central Bank was reinforced by union leaders.In recent months, Mr. Lula has criticized the benchmark interest rate Selic, currently at 13.75%, and the performance of the Central Bank, headed by Roberto Campos Neto. The president of the Central Bank, on the other hand, has said that he wants to lower interest rates, but has not yet found the "structural conditions" to do this and is waiting for the moment to make this move with "credibility." Ten days ago, at an event in London, Mr. Campos Neto said that if the Central Bank "doesn't manage to move the Selic with credibility, the long-term interest rate won't fall."At the Labor Day event, Mr. Lula also criticized the radical Bolsonarists who destroyed the headquarters of the three powers on January 8 and called on the population to "become soldiers" against the dissemination of fake news. "I want to invite you to become soldiers against the 'fake news.' We cannot allow lies to continue to prevail in this country," he said. "Lies have never led anyone anywhere, and it was the truth that defeated the former president of the Republic. They tried to stage a coup on the 8th [of January]. All the people who tried to stage a coup will be arrested because this country has real democracy," said Mr. Lula.During his speech, Mr. Lula reiterated the proposals for a real increase in the minimum wage, above the rate of inflation, and the expansion of the income tax exemption, which was announced on national television on...

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