Posted on 02/01/2023 11:21:06 AM PST by Kaiser8408a
The Federal Reserve slowed its drive to rein in inflation and said further interest-rate hikes are in store as officials debate when to end their most aggressive tightening of credit in four decades.
Policymakers lifted the Fed’s target for its benchmark rate by a quarter percentage point to a range of 4.5% to 4.75%. The smaller move followed a half-point increase in December and four jumbo-sized 75 basis-point hikes prior to that.
The unanimous decision by the Federal Open Market Committee was in line with financial market expectations.
Markets are forecasting a pivot after the June meeting in 2023.
The face of The Federal Reserve. Although Yellen is now Biden’s Secretary of Treasury.
(Excerpt) Read more at confoundedinterest.net ...
Playing footsie with inflation. It will blossom again by spring.
Yay! they are ONLY raising interest rates another 0.2s%!!
How great. The economy is getting crappier at a slower rate!
Thank goodness my bank savings account is rising to match the Fed rate.
I kid, of course. My bank continues to pay 0.10% annual interest. So I’m moving all my excess cash to a mutual fund money-market account. It pays close to the Fed rate. I’m still losing to inflation, but not as much as if I were keeping it in my friendly local bank.
what powell really thinks...although a parody...probably real
https://twitter.com/CNNFU/status/1620526555775774720
Thus extending the inflation pain. They should have done a half point. With the Biden administration continuing to print money to toss at the preferred groups, we have the two factions working against each other.
Interest rate hikes are going to do no good if we keep printing money. Continuing the Covid emergency to allow the abatement of student loans, increased SNAP benefits, and medicaid expansive just keeps the gravy train running. We are putting too many dollars into the economy that has no production to back them up.
Q. Chairman Powell, does you believe that workers who have been laid off to satisfy your unemployment target will be grateful that the prices they might have paid for goods and services if they still had a pay check are now lower?
It depends on M2 growth which from what I understand is now 0. Problem is that most of the money that has been printed has not been spent as of yet.
The Democrat Communist are doing a great job effing up everything good Trump tried to do.
Prices are NOT lower. It is only the size of the increase that is lower, ie, prices are still increasing but on a percentage they increasing slower.
Widget in 2020: 100
Widget in 2021: 150 inflation 50%
Widget in 2022: 200 inflation is DOWN to 33%
Widget in 2023: 250 inflation is DOWN FURTHER to 25%
Don’t you feel much better!!!
Each day there is news of layoffs in the private sector, but do you ever hear about government layoffs? These eff’n lazy asses don’t even go to work. Republicans in the House presently have a bill to force government scumbag employees to work from the office. These lazy asses ARE the cause of inflation. They are enemies of working Americans.
I certainly wouldn’t mind layoffs in government, but I’m worried some of them would try to migrate over to the private sector, thereby spreading some of their buffoonery.
I’ll play the optimist. Let them migrate to big business. Small businessmen are not going tolerate incompetence and laziness. When I had my business (retired now) having too much “government time” on a resume was the kiss of death. The idea of an interview wasn’t even entertained. As for big business, I have zero love. Let unemployed government types implode big business. There needs to be a serious reckoning in woke, globalist business. That can only happen with a massive shock. Flood them with 1.5 million lazy ass employees. (Notice, I don’t refer to government employees as workers.)
The Fed needs to lower rates because unemployment is going up. Unemployment is lagging indicator.
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