Posted on 09/18/2024 3:05:03 PM PDT by artichokegrower
The Federal Reserve cut interest rates Wednesday by the biggest amount in 16 years.
The 50 percentage points reduction will make borrowing money less expensive, taking some of the pressure off consumers' wallets.
Today's cut brings benchmark borrowing costs down to between 4.75 percent and 5 percent.
(Excerpt) Read more at dailymail.co.uk ...
When asked about job creation being just over 100,000 per month for the last three months, Powell noted that immigration into the US plays a part in job growth.
'Job creation depends on inflows,' said Powell. 'So if you're having millions of people come into the labor force and you're creating 100,000 jobs, you're going to see unemployment go up.
'So it really depends on what's the trend underlying the volatility of people coming into the country,' he continued.
'We understand there's been quite an influx across the borders, and that's been one of the things that has allowed the unemployment rate to rise.
'And the other thing is just the slower hiring rate which is something we also watch carefully. So it does depend on what is happening on the supply side.'
Maybe someone should inform Kamala about this
It means inflation is back?
I hadn’t noticed that inflation had gone away.
Well, supposedly it decreased some. But that may be over.
16 years ago, the Fed had to repeatedly cut interest rates to avoid an economic depression after the “too big to fail” banks and investment firms had to be bailed out by GWB - the president who said he proudly said, “I’ve abandoned free-market principles to save the free-market system,” Bush told CNN television, saying he had made the decision “to make sure the economy doesn’t collapse.”
The Fed raised interest rates 11 times in ‘22 and ‘23 to prevent the inflation everyone worried about after C0vid-19 hit our economy.
It’s long past time for a cut.
It may decrease a tad...but inflation is cuumulative...so it goes from 21% to 22% instead of 21% to 23%.
They’ve been saying it’s been decreasing, but I don’t believe a word spoken by anyone in this administration.
Inflation is still around. So the answer is no. The government wants to cut the interest rates so we can pay the debt. And Harris can win in November.
It is totalitarian that interest rates can be set arbitrarily by a government cartel. Interest rates should be market driven by risk and reward as perceived by the lender.
RE: I hadn’t noticed that inflation had gone away.
Like the nasty and mean Henry Fonda character defended by Katharine Hepburn:
“Sometimes you have to look hard at a person and remember he’s doing the best he can.”
Katherine Hepburn (as Ethel Thayer) to Jane Fonda (as Chelsea Thayer Wayne), On Golden Pond, 1981
Quote I saw: "The Federal Reserve Banks are not a part of the federal government, but they exist because of an act of Congress. Their purpose is to serve the public."
As long as I can afford a loaf of bread and a jar of peanut butter, I’m voting for kamalala and what’s his name.
“ As long as I can afford a loaf of bread and a jar of peanut butter, I’m voting for kamalala and what’s his name.”
You forgot the sarcasm tag…
It helps separate true freepers from the du crowd.
Blatant election interference.
As long as Fedgov keeps spending and energy is locked down by this administration, inflation is going nowhere.
The Fed can wait until November to do this. It's not even 50 days.
I wanted to say quasi gov agency but forgot how to spell it lol....enjoying my bourbon right now
The Fed is a banking cartel created by our elitist overlords in 1913. Its creation, along with the illegally ratified 16th amendment, marked the effective end of the American republic.
True.
Sometimes names changed to keep us off balance.
https://m.imdb.com/title/tt0106179/mediaviewer/rm2100679937
So if I wanted to lease a new car would my interest payments be lower?
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