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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

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To: ConservativeInPA
Here's the latest from the Atlanta Fed. While these numbers are not official, and they're not always on the money, they do represent a good glimpse of the financial health of the country.

Federal Reserve of Atlanta GDPNow

As of now, they're tracking a 0.3 growth rate for Q3, but not the direction of the graph. There's still 10 days of the quarter left, and it will be weeks before all the numbers are in. This could be the 3rd consecutive quarter of negative GDP growth. It will be harder to fight off the cries of recession, but they will give it a good run.

21 posted on 09/21/2022 12:13:24 PM PDT by Repealthe17thAmendment
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To: Captain Peter Blood

They should have done that 200 basis point rise back in February. This incremental approach is for the birds.


22 posted on 09/21/2022 12:13:52 PM PDT by Night Hides Not (Remember the Alamo! Remember Goliad! Remember Gonzales! Come and Take It!)
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To: ConservativeInPA

We need to get restore our republic first.


23 posted on 09/21/2022 12:13:52 PM PDT by mewzilla (We need to repeal RCV wherever it's in use and go back to dumb voting machines.)
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To: cuban leaf
IMHO, when Powell says things like "no recession" and "inflation has to be controlled", he's basically saying: "Heads up. Not only did we just hike rates by 0.75% expect us to keep on doing it in the near future. Don't say we didn't warn ya."

Without getting into whether or the Fed should even exist or what the Fed should do, this is one quality I like about Powell. His predecessors did a bad job of projecting ahead of time what the Fed would do. That's why usually on days like today when the Fed announced a new policy, the stock market used to jump up or down more than AOC does in glee when a baby is aborted. I always suspected more insider trading in those scenarios. At least with Powell's good way of getting the word out ahead of time, the stock market has small jumps on days like today (because we all knew the 0.75% rate hike was coming, just like Powell's statement today tells us what's probably coming down the road).

Did anybody see a statement from the FOMC about more QT?

24 posted on 09/21/2022 12:14:18 PM PDT by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
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To: Captain Peter Blood

Read an article the other day that said “Real Interest rates” (interest rate less inflation rate) remain negative and inflation will not cool until interest rates exceed the inflation rate, which is now up over 8%.

The Commie Rats are attacking we the people every way they can.


25 posted on 09/21/2022 12:14:18 PM PDT by RatRipper
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To: dangus

“Essentially, the government found a way to spend trillions of dollars in Keynesian spending without actually producing anything, but also without requiring legislative authorization.”


Nice work if you can get it.


26 posted on 09/21/2022 12:15:27 PM PDT by Ken H (Trump /DeSantis)
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To: Captain Peter Blood

You’re right, because they are hiding the real inflation rate. Reagan era used an old formula.


27 posted on 09/21/2022 12:16:02 PM PDT by xzins (Retired US Army chaplain. Support our troops by praying for their victory. )
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To: ConservativeInPA

“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.”

He’s not supposed to, he is to stay silent on that. Separation of powers. And the President/congress isn’t supposed to tell him what to do either.

Most people here apparently weren’t around during Volker’s day. They wouldn’t have survived.


28 posted on 09/21/2022 12:17:42 PM PDT by SaxxonWoods (The only way to secure your own future is to create it yourself.)
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To: ConservativeInPA
Worse now is that assets are over inflated, ie stocks, housing. Problem is that the dollar has gained enormous strength over the past 6 months. Another problem being, is that we haven't experienced a world wide ‘recession’ in a instant globalized environment before.
29 posted on 09/21/2022 12:18:21 PM PDT by Theoria
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To: stevio

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

The stock market has rallied on every day the FED has made a move for years.


30 posted on 09/21/2022 12:19:01 PM PDT by SaxxonWoods (The only way to secure your own future is to create it yourself.)
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To: joe fonebone

Neat. But completely wrong.


31 posted on 09/21/2022 12:19:49 PM PDT by SaxxonWoods (The only way to secure your own future is to create it yourself.)
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To: dangus

“The way to cool inflation is to stop the federal reserve’s asset purchases,”

The FED is doing quantitative tightening right now, selling off those bond purchases. It’s not being talking about but that’s having more effect than the .75% raises.


32 posted on 09/21/2022 12:21:53 PM PDT by SaxxonWoods (The only way to secure your own future is to create it yourself.)
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To: dangus

Well, remember, didn’t they change the definition of a recession, so that the media wouldn’t say we’re in a recession????


33 posted on 09/21/2022 12:22:11 PM PDT by Dilbert San Diego
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To: thegagline

Trump made a whole bunch of bone headed picks for cabinet and other positions.


34 posted on 09/21/2022 12:22:11 PM PDT by tanstaafl.72555
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To: Theoria
Another problem being, is that we haven't experienced a world wide ‘recession’ in a instant globalized environment before.

^^^^ This ^^^^

35 posted on 09/21/2022 12:22:44 PM PDT by ConservativeInPA ( Scratch a leftist and you'll find a fascist )
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To: mewzilla

Is this like seeing the cattle get through an open gate and deciding the answer is to build a new barn?

Inflation has been caused by biden screwing up the fuel prices. That is the main reason everything is costing more. Raising interest rates will do nothing to solve that problem.


36 posted on 09/21/2022 12:23:50 PM PDT by oldasrocks
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To: Major Matt Mason

(It’s all a part of the Great Reset)

It’s hard to believe that it’s not by design. They’re going to inflate us into Depression II.


37 posted on 09/21/2022 12:26:18 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: cuban leaf

(These people think the general public is downright moronic)

2008 conclusively proved that to be correct.

Unfortunately.


38 posted on 09/21/2022 12:27:39 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: ConservativeInPA

Jimmy Carter all over again economically, only this time on
steroids.


39 posted on 09/21/2022 12:31:55 PM 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: SaveFerris

2008 was the best opportunity out of all the recessions I’ve been through. I retired from active work in 2007 and doubled my net worth by the time Obama left office.

I’m not expecting anything like that this time, but there will be good opportunities.


40 posted on 09/21/2022 12:32:18 PM PDT by SaxxonWoods (The only way to secure your own future is to create it yourself.)
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