Transitory depression?
Are they still shooting for a 5% unemployment rate with that?
And….the market rips.
They’ll raise it more. They’re watching real estate, so they’ll “do the tighten up” for some time to come.
Archie Bell & The Drells - Tighten up (1968)
https://youtu.be/Wro3bqi4Eb8
As with everything else in our society, high interest rates are always bad and low is always good. There will always be the uppidity ones, even on freeper, that want to sound like the smartest people in the room by explaining how nuanced interest rates are and how very low rates are bad. Go ahead, you all are still wrong. When your opinion is framed by someone who dazzled you with their supposed knowledge and made you want to sound like them, then you need to question your position. Lower rates the better, always. The Fed has even mentioned that killing the economy and starting a recession are acceptable if it gets inflation down. Kind of like drilling a whole in your head to get rid of a headache, maybe pragmatic but still not smart.
Stupid voters vote for stupid politicians who make stupid policy.
This article is entirely wrong. The Fed announced it will raise rates by only 50 basis points instead of 75 in December and that future interest rates increases will be more modest. That’s why the stock market took off.
AP is dumber than a box of rocks.
Here’s the headline from the Wall Street Journal:
Jerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December
Here’s a link to the story:
Raising interest rates doesn’t, by itself, always cut inflation. Low interest rates didn’t cause it, so raising them won’t undo it.
But they’re not going to listen to me. I get my ideas on the economy from Milton Friedman.
He is saying he has no clue!!