Actually, not.
Posted on 11/07/2024 11:19:11 AM PST by DFG
The Federal Reserve cut interest rates by a quarter percentage point, avoiding any surprises just days after the election of Donald Trump as president.
The central bank voted unanimously Thursday to cut its benchmark rate by 25 basis points to a new range of 4.5%-4.75%, making the decision at the conclusion of its two-day policy meeting in Washington, D.C.
The move marks the second rate cut in seven weeks, following a jumbo half percentage point reduction in September that kicked off the Fed’s first easing cycle in more than four years.
This new cut was justified, according to the Fed’s Federal Open Market Committee, as a way of supporting its dual mandate to maintain stable prices and maximize employment.
However, the central bank removed language from its policy statement noting that the "committee has gained greater confidence that inflation is moving sustainably towards 2%," raising new questions about the pace and number of future rate cuts.
Instead the policy statement noted that the committee "judges that the risks to achieving its employment and inflation goals are roughly in balance.”
(Excerpt) Read more at finance.yahoo.com ...
8 years ago, they raised rates right after Trump won the 2016 election. LOL
Long term rates have been going up.
Do they really think inflation is tamed? Why did they do that?
The Fed is stuck, history dictates lowering rates always increases inflation….now turn up the printing machines and we can say Hello Venezuela.
I sure hope Trump has a plan….the Demoncrats have left him with one hell of a historical mess.
I think if we “drill baby drill”, and lower energy costs down to pre 2021 levels, that can somewhat offset inflation from other places.
When the price of diesel comes down, a lot of prices will come down with it.
Exactly right
The Biden regime purposefully created cost push inflation in energy prices. This was done to “save the planet” by forcing cost driven reductions in US Consumerism and make “green energy” sources cost competitive.
Basically the Bidenites recreated the world wide impact of the 1973 Arab oil embargo using US Government regulation to create the same global economic impact
Ding ding, we have a winner.
Not going to have an impact.
The interest rate doesn’t matter to people when they are already tapped out.
Yeah, doesn’t it make you want to go out and buy one of those $70,000 Jeeps?
Does this mean a more stable dollar? Or?
Most business runs on borrowed money. Reducing their costs to borrow reduced the impact of cost push inflation on their costs of goods and improve their ROI. Combine this with even a small dose of fiscal restrain out of DC and you will see some serious improvement in inflation pressures
It’s slowly going down. at least here...
if you hunt with the right app it’s under 3 bucks. pump price hanging around 3.29..
This is in the people republic of Minnesota.
The Fed is pissing into the wind on interest rate cuts.
We are all ready in recession, the Biden regime just been fudging the numbers to paint a fake rosy picture. Obama and Clinton did the same thing.
Only 12,000 jobs in Oct is so deep down the well we can no longer see the daylight.
Actually, not.
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