Posted on 11/02/2022 11:11:15 AM PDT by ChicagoConservative27
The Federal Reserve on Wednesday hiked interest rates by three-quarters of a percentage point, pressing even harder on the brakes of the economy in a scramble to slow inflation.
The Federal Open Market Committee (FOMC), the panel of Fed officials responsible for monetary policy, boosted the central bank’s baseline interest rate range to a span of 3.75 to 4 percent. It is the fourth consecutive 75 basis point hike issued by the Fed and sixth interest rate increase since March.
(Excerpt) Read more at thehill.com ...
I tend to agree. The most expensive “free” money ever.
Exactly as I figured..........
The Fed is trying to reduce the inflation Biden caused. Biden is trying to blame the Fed for his recession.
The Fed rate has to get above the inflation rate to seriously curb inflation—long long way to go....and the economy will crash and burn well before they get there.
This is like trying to have a “soft landing” with both engines gone—at 10,000 feet.
Bidet says “Hey, the landing gear still works.”
;-)
It’s particularly distressing that even Trump didn’t care about the wild deficit spending. When asked about it, he said something along the lines of It’s not my problem. I’ll be gone before it gets really bad.
I suppose only a balanced-budget constitutional amendment can save us now. And it would have to come from the states, as Congress sure doesn’t want any restrictions on its spending.
I thought the fed would wait until after the midterms, to help drag some dem-o-rats across the finish line.
Massie stood tall among midgets!
Made my stock’s go up.
Meanwhile our lying treasonous worm who can’t even tell the truth about his own son’s death, is fixing to make a speech tonight blaming Republicans for Paul Pelosi and his hammer problem, and again slandering us all as threats to his “democracy”.
It’s becoming quite clear to the American voters who is a threat to their ability to feed their families.
I suppose only a balanced-budget constitutional amendment can save us now. And it would have to come from the states, as Congress sure doesn’t want any restrictions on its spending.
—
When is the last time the Congress even made a pretense at submitting a budget, balanced or otherwise. They’re running on continuing spending resolutions.
Nasty stuff this. Inducing a recession to stop inflation is primitive, foolish and terrible thing to do. Same as medieval surgeons thinking bleeding would help a sick patient.
They need to stop it now. We slow walked into inflation we can slow walk out of it. It is easy for old farts to call for a recession...
Trump has a way to deal with trillions spent that is to talk about China paying “reparations”.
In one speech Trump talked 60 trillion dollars needed from China for causing COVID.
Policy towards China is becoming increasingly confrontational like with Russia.
Perhaps that’s the end game extract money from China with China assessed the blame for COVID.
Pain for who? The young, just starting out in life. Many will lose everything...
Yes. It has been on a rebound for the last 30 days.
It’s particularly distressing that even Trump didn’t care about the wild deficit spending. When asked about it, he said something along the lines of It’s not my problem. I’ll be gone before it gets really bad
“I’ll be gone before it really gets bad?” DON’T QUOTE THE MAINSTREAM MEDIA. Find better information.
Old farts, get your basements ready to take in your unemployed adult children....
If the economy truly crashes then inflation will stop.
The reason for this has to do with the modern private credit system.
In the “old days” the increases in the money supply was just the money created by the fed—which was largely a function of government deficits.
However, there is now additional “money” in the system—and that is any new outstanding debt—new credit card debt, new bank loans, new car loans, new mortgages, new corporate loans etc.
That private “money” literally is created out of thin air.
When the economy crashes that “other” money goes away which deflates the currency—so even if the fed is printing up a storm it is either partially or fully offset.
Plenty of republicans contributed to it as well. The root cause really isn’t R vs D. It’s government vs the people. The make sure R’ s hate D’ s and D’s hate R’s so we don’t all unite and March on Washington and hang the lot of them. Just one mans opinion.
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