Posted on 09/17/2015 5:37:33 AM PDT by citizen
Fed decision day: The event traders across the globe have anticipated for months has finally arrived.
As of 8:00 a.m. ET, Dow Jones Industrial Average futures were 43 points lower, or 0.26% to 16621. S&P 500 futures shed 6 points, or 0.31% to 1982, while Nasdaq 100 futures slid 10 points, or 0.24% to 4370.
Today’s Markets
Months of speculation about whether September was the month in which the Federal Reserve would begin to lift short-term interest rates is finally coming to a close. The Federal Open Market Committee meets for the final day of its two-day policy-setting meeting, which will conclude at 2:00 p.m. with a statement announcing whether the central bank will hike rates or keep them at historic lows. A press conference by Fed Chief Janet Yellen is scheduled for 2:30 p.m. to follow the announcement.
Opinions on the Street, while once firmly rooted in the September liftoff camp, are mixed. Some of the biggest banks, including Goldman Sachs (GS) and Barclays, have shifted out their original calls, and are now looking for an increase to come in December and March, while other forecasts are for a rate hike somewhere in the middle.
(Excerpt) Read more at foxbusiness.com ...
What say you??
Raise.
I still think not right now.
Head fake city!!! There will be no raise BUT if there is it will be 1/4% just to maintain some kind of Federal Reserve Bank credibility. But if raised this 1/4% you will not see another increase for months or years. The Chinese, European economies and US economy cannot handle interest rate increases
If the Fed raises .25% you will not see another one for 24 months.
Are you a retiree who saved for retirement, assuming (as those wise financial advisors assured us) that they would always earn at least 4% interest on FDIC CDs?
Not being able to grow savings and depend on it maintaining its worth is killing the middle class and it's taking away money from seniors, a lot of which would go in to local economies.
We have 12 central planners carefully planning our economy. How did that work out for the Soviets? How about Japan?
Let the market rule.
They can’t. Gotta keep the House O’Cards standing.
I don’t think they will raise interest rates. There are a few economic reports due out this morning. Housing starts, Jobless claims, Philly business outlook.
We will see.
Raising rates duriong a (Obama) recession is economic suicide.
Otoh, I would welcome any increased rate paid on MM accounts, on CDs. Us savers have been abused for far too long.
YES I am and I am not happy about the state of the economy and ZIRP. I'm sick of almost 0% interest on my savings.
This just shows how weak these US and world fiat economies have become. Having to flood the world with free made-up money to simply stave off deflation illustrates that this fiat money system is failing and failing badly, as they always do.
They shouldn’t raise it, but they will.
With a now looming World War front being opened in Europe by ISIS, ...
With a market in China on government life support...
And the monetary velocity at an all time high...
And 92 million not even looking for work or trying to make their own wages...
And nearly half off all Americans on some sort of government assistance...
Yeah, raising rates are just the ticket!
You mean low.
What have we heard over and over? “The central banks are out of ammunition” I learned as a kid if we primed the pump and no water came up, we were hurting!
Yeah, that’s it, politicians always want to service a problem and hope it goes away. This one likely won’t just ‘go away’ and the longer the ole House O’Cards keeps standing, the worse will be it’s crash.
Zero interest rates don’t make free market sense and they never did. The correct approach would to have been letting the rates zoom up, killing the deadwood and driving new needed cash into the market.
The Fed is and always was a politicized organization. How do you get on the Fed? What President is going to want to raise interest rates during their term, ever?
It was bad policy from the get go and I and others noted it wouldn’t work. Now here we are.
Reagan.
He’s dead, Todd. ;-]
Elect me and I promise a market based interest rate, but then I’m going to deregulate the entire economy. Are you ready for 6% annual growth via productivity and low inflation?
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