Posted on 06/17/2021 7:57:15 AM PDT by Leaning Right
The Federal Reserve indicated Wednesday it may raise interest rates sooner than previously anticipated as the United States comes out of the coronavirus pandemic. But Federal Reserve Chairman Jerome Powell played down expectations, claiming discussion of the change at the Federal Reserve is highly premature.
The central bank forecasts it would raise interest rates twice by the end of 2023 after previously estimating there would be no interest rate hike until 2024.
(Excerpt) Read more at cbsnews.com ...
That’s what Janet Yellen says, anyway.
Time to trade cash for hard assets.
You know, like the globalists buying up all the lockdown properties at fire sale prices.
I’m buying beef and freezing it.
and yet bond yields are not at their highs. so we shall see.
Fed is playing the craps game for the benefit of the Govt- in a heads we win, tails you lose fashion.
Keeping rates low helps keep the government borrowing costs down
But it devalues the dollar and creates inflation- hurts we the people.
If the Fed was following its stated goals of price stability and 2% growth, they would be would be pumping the brake pedals with small rate increase. But they are liars, thieves and robbers, too just like the commies in Congress, the commie President and the commie Deep State.
The banks are doing the govt's bidding by hammering gold and silver. As of 8:30 a.m. PST, Gold is down $50, silver $1.
The govt hates competition.
Time to trade cash for hard assets.
Gold and Silver both off huge this morning. Better buy.
They both made their last high adjusted for inflation about 40 years ago.
Stagflation
The Federal Reserve needs to slam the brakes now by increasing the interest rates so they’ll reduce the supply of fiat currency. That’s how I understand it anyway, if we want to “tame” inflation.
-—But it devalues the dollar and creates inflation- hurts we the people.-—
Inflation and devaluation have results and benefits. An important result is devaluation of the old debt. that is a benefit to our grand kids.
Kings get in trouble with debts resulting from war. Is devaluation and inflation to defeat the Spanish Armada a greater evil than conquest by Spain?
We are looking at inflation during a period of record historical prosperity
Personally, various hard assets have increased enormously in value and there can be very significant inflation to reach parity of but one year ago much less 2017 and Trump,
Raising rates conveniently after 2022.
Do what is right when it is right... not when it’s politically expedient.
DC is an absolute circus.
Looks like I’ll be buying more real assets.
Frozen beef.
Now THAT’S a hard asset.
Badum-sss
It might help we who have significant assets and some debt, but it hammers wage earners and those starting out it life.
I was just starting out as an adult in late 70’s and early 80’s. I cut my teeth as a young bank examiner when the prime rate hit 20.5%. Bank investment portfolios had an extreme amount of depreciation. Small businesses were dropping like flies. Mortgage rates were atrocious. I disagree. Inflation is a horrible thing for regular folks. I’ll be ok, but I have children in their 30’s.
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