FOMC Raises Federal Funds Rate 25 Basis Points to 2.25%

CNBC | December 14, 2004

[RWR8189]

In the fifth tightening of US monetary policy in as many meetings, Alan Greenspan and the Federal Open Market Committee (FOMC) raised the Federal Funds Rate target 25 basis points to 2.25%, as expected.

More...

[Next_Time_NJ]

Expected...

[IllumiNaughtyByNature]

Needed to control inflation.

[nanak]

Inflation = hidden tax currently running at 20% per year.

[tm22721]

What ?

The party's over ?

BUMP

[FourtySeven]

Here's a question: What exactly IS a "basis point" anyway?

[Southack]

"Inflation = hidden tax currently running at 20% per year."

Inflation is at or below 4%. It's so marginal that no one even cares about it any more.

[nanak]

Milk and milk products are up 25%, gas is up 25%, and my salary is up 2%.

Thank GOD inflation is less than 4% and nobody cares anymore.

"It is a [disputed] question, whether the circulation of paper, rather than of specie, is a good or an evil... I believe it to be one of those cases where mercantile clamor will bear down reason, until it is corrected by ruin." --Thomas Jefferson to John W. Eppes, 1813. ME 13:409

[getsoutalive]

shhh....Food and energy don't count. People hardly ever use those things anyway.

[Southack]

http://inflationdata.com/Inflation/Inflation_Rate/InflationCalculator.asp

Updated through August of 2004. Use it. Suddenly your posts will appear to be informed rather than pulled out of a tinfoil hat.

[Southack]

See the link in post #10.

[nanak]

From January 2002 to December 2002, 2.15 X 12 = 24.60% GREAT!!!

[nanak]

...and I believe government's STATISTICS.

[Bogey78O]

2.15 is the total year of inflation. Notice how the page says it measures it from beginning to end. Learn how to do math.

[Bogey78O]

Gas and milk adjusted for inflation stoo still while everything else rose. Adjusted for inflation it's just catching up.

[Southack]

"From January 2002 to December 2002, 2.15 X 12 = 24.60% GREAT!!!"

Oh dear child! You can't multiply the *annual* inflation rate by 12 to achieve any useful information.

[Recovering_Democrat]

OH MY GAWWWWWWWWWWWWWWWWWWWWWWWWWD! ;-)

[nanak]

Currency losing 25% in one year is not really 25%, but it is 2.15%. It depends what the meaning of inflation as calculated and manipulated by the government Statisticians is.

[RWR8189]

Citing Crudele as a figure of authority?

Come on.

[soccer_linux_mozilla]

Those with home equity lines will pay 0.25% more in interest from now.