FEDERAL RESERVE Fed meeting minutes show members ready to raise interest rates if inflation continues to run high

CNBC ^ | PUBLISHED WED, NOV 24 20212:01 PM EST UPDATED 3 MIN AGO | Jeff Cox

[SkyDancer]

Well that’ll sure help the economy. (/sarc

[jimfree]

That’s how the system works.

[Caipirabob]

[eyeamok]

Bring back 20% Home Mortgages . let’s see how the youngins react

[srmanuel]

We either headed for that or hyper inflation equal to the Weimer Republic.....

[DoodleDawg]

Well that’ll sure help the economy.

It's the most commonly used tool to fight inflation but it may not be effective in this case. I suspect that they will ease rates up to try and moderate the inflation rate and see if it helps.

[SaxxonWoods]

Lowest jobless claims since 1969.

Ports of LA and LB see 33% decrease in container backlogs.

FED sees strength building in economy and may move up interest rate increases.

Housing market still strong almost everywhere.

Conservative perma-doomers hardest hit.

[DesertRhino]

Raise interest rates when the nation is 30 trilling in debt. Yeah, time for another sack of rice.

[SkyDancer]

Thing is: lots of credit card companies base their interest rates to you on what the interest rate the fed issues.

[SkyDancer]

Thing is: lots of credit card companies base their interest rates to you on what the interest rate the fed issues.

[PeterPrinciple]

land who is the biggest debtor? especially in short term financing?

yep, the govt.

[SaxxonWoods]

You’ve got it completely backwards, congratulations.

[jimfree]

Again, credit card rate escalation is part of that system. Congress and Biden will never suffer for the immense damage they have done to the economy and the well-being of millions of citizens.

[DownInFlames]

Jimmy Carter II here we come. We can expect interest rates to hit 15% or higher.

[Karoo]

Back in the 1950s I remember seeing in my textbook a pic of a German man with a wheelbarrow full of money which he was using to buy a loaf of bread. Never forgot that pic.

[SaxxonWoods]

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Reading comments on FR posts dealing with finance has taught me more than anything else why most people don’t prosper financially.

[Varsity Flight]

Deflation. Except for The Exempt Ones

[DoodleDawg]

Thing is: lots of credit card companies base their interest rates to you on what the interest rate the fed issues.

LOL! I have no idea what credit card base their rates on but it's certainly not the Fed rates. If they did all these come-ons I get on a daily basis would not be offering me cards at 16.99% or 26.99% or God knows what interest rate. They may use it as an excuse to jack their rates even higher but that's about it. It will impact mortgage rates though.

[Alberta's Child]

10-year U.S. Treasury bills fetching a rate of 1.65% when inflation is running anywhere between 6% (reported) to 15% (closer to reality).

That makes no sense to except when the financial system is rigged and has no sound economic foundation underneath it.