Posted on 11/02/2022 11:11:15 AM PDT by ChicagoConservative27
The Federal Reserve on Wednesday hiked interest rates by three-quarters of a percentage point, pressing even harder on the brakes of the economy in a scramble to slow inflation.
The Federal Open Market Committee (FOMC), the panel of Fed officials responsible for monetary policy, boosted the central bank’s baseline interest rate range to a span of 3.75 to 4 percent. It is the fourth consecutive 75 basis point hike issued by the Fed and sixth interest rate increase since March.
(Excerpt) Read more at thehill.com ...
The Recession Is On The Way
The 10yr Treasury note dropped 7 bps on the announcement.
They are late. They will have to keep doing it. The next 3-5 years gonna suck. Just my thoughts.
And to think, Democrats are screaming, crying and rushing to the polls so they can kill babies.
Food, inflation, crime and out of control prices aren’t the concern.
Big pain now, or bigger longer misery later.
The recession is here. Well. After the midterms.
Yup. That’s the ticket.
The recession started almost 6 months ago.
> The Recession Is On The Way <
Yes, indeed. But as I see it, the Fed doesn’t have much choice. Either recession with insane inflation, or recession with just high inflation.
This problem was years in the making, another gift to the nation from Barack Obama and his stooge Joe Biden
And the Dow jumped 300 points!
That’s right.
The now depressed housing market, just got more depressed. This will kick interest rates up to 8%.
I bought 18 months ago at 3%, 30 year fixed. If it goes to 8%, that will be close to triple, up nearly 300% since Biden took over.
They’ll overshoot. Too much correction, too late. Ought to pause now and let the effect take hold.
Under Trump: peace, prosperity, $2.00 gas, 3.5% mortgage rates. Trump left Biden with a 1.3% inflation rate.
But we’re ever so much better off under China Joe and the Dems.
The Fed can’t curb inflation when r’s and d’s keep on spending. Trillions and trillions have been thrown at the covid wall and handouts. The Fed is almost powerless against such actions.
It is what it is I’m an investor and I see the long picture.
The inflation mess generated by all wasteful COVID spending by all Democrats and Republicans that started in March of 2020.
The first two trillion dished out ahead of Biden’s wasteful spending only Thomas Massie R-Kentucky objecting.
I am so angry with Republican governors passing out money to people from the stash of inflation generating funny money they took out of Washington in the name of the COVID
“emergency”.
Those “hineys” like Brad Little in Idaho and Brian Kemp in Georgia what jackwagons they are.
Bizarro world now.
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