Posted on 12/22/2018 4:15:01 AM PST by Libloather
President Trump has discussed firing Federal Reserve chairman Jerome Powell after the central bank announced this week that it would raise interest rates, Bloomberg reports.
**SNIP**
Powell publicly pushed back against the president earlier this month after Trump tweeted urging the Fed to resist raising interest rates, citing a stock market selloff.
“I know, and everyone who works at the Fed knows, that we’re going to do our jobs the way we’ve always done them,” Powell said at a press conference at the time.
Trump previously said in October that he would "maybe" regret selecting Powell to succeed the Federal Reserve's previous chairwoman, Janet Yellen, who resigned in November 2017.
(Excerpt) Read more at thehill.com ...
And yet the US economy is humming along at nearly 3% since the "return to normal" rate policy started.
I prefer economic growth without inflation bubbles, and so far the Fed has delivered.
Sorry, I just don't see this latest hike as excessive.
The housing and equity bubbles have been effectively pierced and the US is growing at a 2.9% annual rate...that's healthy not harmful in the long run.
For retirees now, there are two groups. People with full pensions from work lead very nice lives. Those dependent on Social Security or handouts count every penny, some to the point of working McDs for day-to-day expenses. That's going to get worse. Many of those approaching retirement have not had a stable job history, so haven't save much. Soon only the very wealthy and government worker retirees will have pensions. I'm constantly amazed how many people aged late 50s and older still have debt on houses, credit cards, autos, some even college loans!
I doubt if any people who are mapping out the future can envision a good financial outcome for the millions who have no savings or resources when they are in retirement. I wonder what the solution will be.
Yes, it is so why is the market not continuing to celebrate what is?
The market may not be the economy as so many say. Right now at least that appears to be true. It is a political tool these days or we are all wet in thinking the economy is good.
Funny how the last survey shows high consumer confidence. The swamp is now working to smash that in time for the elections in 2020. They have started early this season. I’m wondering why? I expected they would begin sometime late next year to start the attack. Instead what we have is an intensification of the ongoing attack on Trump.
Oh, PS. The reason the attack on consumers and confidence is beginning early? To set up so the rats can pretend to save us. You’ve seen this movie before? So have I.
Come on what poppy cock. Higher interest rates hurt the housing market, one of the key engines of economic growth. That is just one example. Are you for real? LOL.
I could support Forbes.
Housing starts just reported were +3.5% over last month to 1.256M, which is higher than any point during the 0% interest rate period of 2008-2016.
The economy is growing at a 2.9% annual rate, a full point higher than it was before the Fed started increasing rates.
The housing market and the economy are doing just fine in this environment, despite what fools folks like you think about it.
4% GDP is normal. And how high would housing be if interests were lowered or remained steady? A lot higher. The housing market is at risk FOR NO REASON OTHER THAT POLITICAL - TO GET TRUMP:. Get in the game you are being played.
You are being played, you are an idiot naive.
And whats the "normal" interest rate that goes along with that GDP number?
/muppet
I've already posted the latest numbers on housing starts showing they're in great shape and better than any point during the 2008-2016 period of Fed intervention.
If you want a return to 4% GDP growth you're gonna have to accept a return to higher interest rates that come with it.
Who doesn't want that? You and fed. Both anti Trump.
That is my problem, too!
I voted for him because he seems to hire good people to help him run his businesses.
Are people who want to be in government “service” that duplicitous?
He must feel a lot like Diogenes!
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