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Federal Reserve hikes key interest rate 0.75 percentage point, projects economic slowdown
CBS ^ | September 21, 2022 | IRINA IVANOVA

Posted on 09/21/2022 11:53:10 AM PDT by ConservativeInPA

The Federal Reserve on Wednesday raised its benchmark interest rate by 0.75 percentage point and signaled it plans to keep rates higher for longer as it tries to douse red-hot inflation.

The Fed's target interest rate is now in the range of 3% to 3.25%, the highest level in 14 years. The bank's rate-setting panel also projected that the Federal Funds rate would hit 4.4% by year-end, up sharply from a projection of 3.4% in June, and 4.6% in 2023, up from a previous estimate of 3.8%.

(Excerpt) Read more at cbsnews.com ...


TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS: bidenflation; fed; fedrate; interest; powell; stockmarket
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Powell is answering questions now. The eff’n moron talks like there is no recession. He has no frickin’ clue about what to do and he has basically said that in the Q&A.
1 posted on 09/21/2022 11:53:10 AM PDT by ConservativeInPA
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To: ConservativeInPA

he means faster slow down...


2 posted on 09/21/2022 11:54:15 AM PDT by Sacajaweau ( )
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To: ConservativeInPA

Build back better. If it hasn’t dawned on the Communists
by now, it soon will, what they have ushered in.


3 posted on 09/21/2022 11:54:57 AM PDT by DoughtyOne (I pledge allegiance the flag of the U S of A, and to the REPUBLIC for which stands.)
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To: ConservativeInPA
He has no frickin’ clue about what to do

Probably going to blame White Supremacy.

4 posted on 09/21/2022 11:55:09 AM PDT by ClearCase_guy (We are already in a revolutionary period, and the Rule of Law means nothing. )
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To: ConservativeInPA

I am a hammer, and I see a nail...


5 posted on 09/21/2022 11:55:11 AM PDT by Repeal The 17th (Get out of the matrix and get a real life.)
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To: ConservativeInPA

PROJECTS an economic slowdown that already started in nine months ago????


6 posted on 09/21/2022 11:56:30 AM PDT by dangus
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To: DoughtyOne

In 2018, Trump nominated Powell as chairman of the Federal Reserve.


7 posted on 09/21/2022 11:58:35 AM PDT by thegagline (Sic semper tyrannis )
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To: DoughtyOne
If it hasn’t dawned on the Communists by now, it soon will, what they have ushered in.

They don't care. It's all a part of the Great Reset, i.e. World Communism.

8 posted on 09/21/2022 11:59:02 AM PDT by Major Matt Mason (To solve the Democrat problem, the RINO problem must first be solved.)
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To: ConservativeInPA

It should have been a full percent


9 posted on 09/21/2022 12:01:37 PM PDT by Sir_Humphrey ( I wiIl not be pushed, filed, stamped, indexed, briefed, debriefed, or numbered! My life is my own!i)
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To: Sir_Humphrey

Should have 200 basis points at a minimum


10 posted on 09/21/2022 12:02:09 PM PDT by Captain Peter Blood
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To: ConservativeInPA

You have to admit it is comical. They say there is no recession and then say they have to increase the interest rate to control hot inflation.

These people think the general public is downright moronic. They must be trying to reap the benefits of pouring all that lead in the atmosphere from leaded gas. 🤣


11 posted on 09/21/2022 12:02:51 PM PDT by cuban leaf (My prediction: Harris is Spiro Agnew. We'll soon see who becomes Gerald Ford, and our next prez.)
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To: ConservativeInPA

And....... the stock market is up. I should not trade at all.


12 posted on 09/21/2022 12:03:11 PM PDT by stevio
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To: ConservativeInPA

Raising interest rates has no effect. Banks won’t lend at 4% when there’s 8% inflation, no matter what the federal reserve rate is. Chasing the mortgage rates upward is merely ceremonious.

The way to cool inflation is to stop the federal reserve’s asset purchases, which directly inflates asset prices. The problem is these assets have to be sold back which will deflate asset prices. Essentially, the government found a way to spend trillions of dollars in Keynesian spending without actually producing anything, but also without requiring legislative authorization.


13 posted on 09/21/2022 12:04:13 PM PDT by dangus
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To: dangus

Exactly. What really ticks me off is Powell never addresses the elephant in the room. The Fed can only affect monetary policy, but that alone does not fix the economy. Powell refuses to say that government spending has to be cut. He won’t say regulatory, energy and trade policies need to be changed. All this tells me is we are going to be on an inflation roller coaster like all of the 1970’s and early 80’s. We will have at least a decade of a terrible economy.


14 posted on 09/21/2022 12:04:49 PM PDT by ConservativeInPA ( Scratch a leftist and you'll find a fascist )
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To: ConservativeInPA

Leading from behind.


15 posted on 09/21/2022 12:05:18 PM PDT by Red in Blue PA (You can vote your way into socialism, but you have to shoot your way out.)
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To: Sir_Humphrey

5%. Get the pain over with.


16 posted on 09/21/2022 12:06:18 PM PDT by ConservativeInPA ( Scratch a leftist and you'll find a fascist )
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To: ConservativeInPA

Terrible stuff. If I remember reagan era, the rule was that interest had to be higher than inflation to tame inflation. I don’t know if they meant fed rate or market rate.


17 posted on 09/21/2022 12:06:48 PM PDT by xzins (Retired US Army chaplain. Support our troops by praying for their victory. )
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To: xzins

Then our rates need to be about 17% right now.


18 posted on 09/21/2022 12:10:43 PM PDT by Captain Peter Blood
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To: ConservativeInPA

Scream when the FED raises.
Scream when the FED lowers.
Scream when the FED sits tight.

As always, we got this covered.


19 posted on 09/21/2022 12:10:54 PM PDT by SaxxonWoods (The only way to secure your own future is to create it yourself.)
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To: ConservativeInPA

Okay...
Here’s what is really happening..
This is the ‘06 depression finally playing itself out.
Both FUBO and President Trump had the opportunity to bring us in for a soft landing...
Both failed to do so..
Now, we pay the price..
Put this directly into McCain and Bush laps, where it belongs.


20 posted on 09/21/2022 12:11:51 PM PDT by joe fonebone (And the people said NO! The End)
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