Posted on 12/19/2018 11:35:31 AM PST by Enlightened1
The Federal Reserve on Wednesday raised its key interest rate for the fourth time this year, but signaled fewer rate hikes in 2019 than it had forecast.
Americans with credit cards and other short-term loans will soon notice the increase, although banks typically take longer to raise interest rates for savers.
The hike came amid criticism from President Donald Trump, signs of an economic slowdown, and stock-market volatility.
The Federal Reserve on Wednesday raised its benchmark interest rate as had been widely anticipated and signaled fewer rate hikes in 2019 than it had forecast.
The Fed's statement was expected to set the tone for how it will handle an expected slowdown in economic growth next year, unprecedented political pressure from President Donald Trump, and investors who are nervous about the gradual removal of easy monetary policy.
The central bank's Federal Open Market Committee unanimously raised the fed funds rate by 25 basis points to a range of 2.25% to 2.5%. This will lift the benchmark interest rate to its highest level since early 2008, when the Fed was cutting rates amid the Great Recession. Wednesday's decision was the ninth since the Fed started raising rates post-recession in December 2015.
Americans with credit cards and other short-term loans will shortly notice the increase, but banks typically take longer to raise interest rates for savers.
The FOMC now projects that it will raise rates just twice next year, down from its September forecast for three increases. It also nudged its expectation for gross-domestic-product growth in 2019 by 0.2 percentage points to 2.3%.
Wednesday's rate hike came amid pushback from investors and President Donald Trump, who is concerned that higher borrowing costs will slow the economy.
(Excerpt) Read more at businessinsider.com ...
For the record Obama had 0 interest rate hikes in 8 years. They even lowered it for hom.
Make no mistake the Fed is trying to wreck the Trump recovery of America. They want to punish America for electing President Trump.
BTTT
Fierce pushback?! Give me a break!
“Make no mistake the Fed is trying to wreck the Trump recovery of America. They want to punish America for electing President Trump.”
I completely agree.
Our political avenues are exhausted. It’s clear that the political class is going to get President Trump one way or another. The attacks are relentless and unprecedented.
When there are no political options, what is next?
In today's world? Isolation or capitulation, although the former won't sit well with the socialists who would be leading this country.
Pure sabotage.
I shudder to think.
The fed is deliberately trying to mess up the economy so Trump will take the blame.
I’m mad.
I’m sad.
We don’t know what PDJT is going through and we do need to pray and still have his back. I am not backing down on that and asking my GREAT BIG GOD to smite his enemies.
I am preaching to myself; rest in Him, rest...yeah, I’m mad, sad...I have to trust in Him more.
I pray for PDJT to be given new strength, new energy, new shrewdness and to discover new allies and new Aces in the Hole the enemy did not see coming.
Stench of the Deep State at work.
I'VE HAD IT! President Trump needs to STOP LISTENING to the Deep State cabal that surrounds him when it comes to appointing critical figures such as Powell, Wray, etc..
Dear President Trump, STOP TAKING THE DEEP STATE'S ADVICE AND JUST GO WITH YOUR GUT!
“A proposition was made to them to authorize Congress to open canals, and an amendatory one to empower them to incorporate. But the whole was rejected, and one of the reasons for rejection urged in debate was, that then they would have a power to erect a bank, which would render the great cities, where there were prejudices and jealousies on the subject, adverse to the reception of the Constitution [emphasis added].” —Jefferson’s Opinion on the Constitutionality of a National Bank : 1791.
"In every event, I would rather construe so narrowly as to oblige the nation to amend, and thus declare what powers they would agree to yield, than too broadly, and indeed, so broadly as to enable the executive and the Senate to do things which the Constitution forbids." --Thomas Jefferson: The Anas, 1793.
”From the accepted doctrine that the United States is a government of delegated powers, it follows that those not expressly granted, or reasonably to be implied from such as are conferred, are reserved to the states, or to the people. To forestall any suggestion to the contrary, the Tenth Amendment was adopted. The same proposition, otherwise stated, is that powers not granted are prohibited [emphasis added].” —United States v. Butler, 1936.
"It is easier to get forgiveness than it is to receive permission." —Rear Admiral Grace Murray Hopper, U.S. Navy's Chips Ahoy magazine (July 1986)
The Fed is engineering a downturn to arrive by 20. We know why. I think it won’t be necessary because with Trump surrendering on the wall I’m betting he is not going to run in 20 and I don’t blame him. I cannot imagine how much he has given up and now they have his family in the cross-hairs.
he has also given up on criminal hillary and the coup attempt leaders hillary and obama.
Another Wonderful Trump appointee.
Its coming and many of you will hate it but we dont care how you react.
The Fed is the ultimate Deep State entity...
By 2020 the media will be howling we are in the worse economy since the great depression, a replay of 1992 all over again.
The President grew up in a world where if someone didn't produce, he was gone - "You're Fired", but in the government, and especially the swamp, you just can't get rid of them. Look how long it took to get rid of Jeffie Sessions!
In fairness he's only one vote out of ten on the FOMC. He could have voted against the hike.
Market down 400
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