Fed holds off on rate hike for second straight meeting

The Hill ^ | 11/01/2023 | TAYLOR GIORNO

[ChicagoConservative27]

The Federal Reserve left interest rates unchanged on Wednesday, the first time in nearly two years that the central bank paused rates over the course of two consecutive meetings.

Since March 2022, the Fed has hiked the federal funds rate from near-zero percent to a range of 5.25 to 5.5 percent in an effort to curb rampant inflation. Price growth upeneded the economy in the wake of the pandemic and Russia’s invasion of Ukraine, which helped push volatile energy prices higher.

[ChicagoConservative27]

Sen Tuberville was on TV last night. He said we are printing a 100,000 a min...

[AndyJackson]

Russia’s invasion of Ukraine

Uh, we didn't suddenly wake up with $33T in feral debt because Russia invaded Ukraine.

[MrRelevant]

lol in June it was 31.4T and a few months later its 33T? Dang that stubborn inflation , if only there was a way to tame it...

[Robert357]

People need to understand that the Federal Reserve bank is not an independent agency, but a group that is beholding to those career politicians who need to get reelected. Yes, if the Fed raised rates, it would likely cause a recession and that would be bad for getting career politicians reelected.

This is another way in which elections are “rigged” by the Deep State.

[MeganC]

Russia’s interest rate is at 16% and ours should be similarly situated to tamp down inflation.

The problem the Fed is having is that if they raise interest rates like they should then Congress won’t be able to max out their credit card anymore.

Which IMHO would be a feature and not a flaw.

[AndyJackson]

Dang that stubborn inflation , if only there was a way to tame it...

It's those dang Rooskies stifling democracy in Ukraine and colluding with Trump. We need to keep borrowing to fight Putin.