While inflation skyrockets, look for the Government stats to say that it remains at 2-3% annually. The whole things is a BS scheme to bail out Wall Street and the Banks from their idiotic excesses with other peoples money.Inflation will rise. Food prices are going up. Energy (oil) is not counted into the inflation numbers.
The cut in interest rates is to prevent a nosediving economy. It just might.
I do agree that the next 2 years might be a rough ride.
"The cut in interest rates is to prevent a nosediving economy. It just might."
"If recession should threaten serious consequences for business (as is not indicated at present) there is little doubt that the Federal Reserve System would take steps to ease the money market and so check the movement."
---Harvard Economic Society, October 19, 1929
