The Recession Is On The Way
The 10yr Treasury note dropped 7 bps on the announcement.
They are late. They will have to keep doing it. The next 3-5 years gonna suck. Just my thoughts.
And to think, Democrats are screaming, crying and rushing to the polls so they can kill babies.
Food, inflation, crime and out of control prices aren’t the concern.
Big pain now, or bigger longer misery later.
And the Dow jumped 300 points!
The now depressed housing market, just got more depressed. This will kick interest rates up to 8%.
I bought 18 months ago at 3%, 30 year fixed. If it goes to 8%, that will be close to triple, up nearly 300% since Biden took over.
They’ll overshoot. Too much correction, too late. Ought to pause now and let the effect take hold.
Under Trump: peace, prosperity, $2.00 gas, 3.5% mortgage rates. Trump left Biden with a 1.3% inflation rate.
But we’re ever so much better off under China Joe and the Dems.
The Fed can’t curb inflation when r’s and d’s keep on spending. Trillions and trillions have been thrown at the covid wall and handouts. The Fed is almost powerless against such actions.
Exactly as I figured..........
The Fed is trying to reduce the inflation Biden caused. Biden is trying to blame the Fed for his recession.
I thought the fed would wait until after the midterms, to help drag some dem-o-rats across the finish line.
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.
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.
Based on what happened during the late 70s, this Fed is still way behind schedule on rate hikes. Some monetary rules would require rates to be at least double the current target.
Let me see, inflation is over 8% a year, Fed Funds Rate is 4%, so short term real, after inflation, rates are still deep in negative territory.
I could care, our democracy is being threatened by having a democracy. Joe Biden to speak on this crucial issue later tonight.