Posted on 09/18/2024 12:47:09 PM PDT by xoxox
“We concluded that this was the right thing for the economy and the people we serve,” the Federal Reserve chair, Jerome Powell, said, referring to the central bank’s decision to cut interest rates by half a point.
(Excerpt) Read more at nytimes.com ...
list every election-year federal reserve interest rate change going back 70 years
ChatGPT said:
ChatGPT
Here’s a summary of key Federal Reserve interest rate changes during election years over the past 70 years:
1950s
1952: No major changes.
1956: Increased rates from 3.25% to 3.5%.
1960s
1960: No major changes.
1964: Increased rates from 4.0% to 4.25%.
1970s
1972: Increased rates from 5.25% to 5.5%.
1976: Decreased rates from 5.75% to 5.25%.
1980s
1980: Increased rates significantly; peaked at 20% in 1980.
1984: Decreased rates from 11.5% to 10.5%.
1990s
1992: Decreased rates from 3.25% to 3.0%.
1996: Decreased rates from 5.5% to 5.25%.
2000s
2000: Decreased rates from 6.5% to 6.0%.
2004: Increased rates from 1.0% to 1.25%.
2008
2008: Cut rates from 4.25% to 0.25% in response to the financial crisis.
2010s
2016: Held rates steady; no major changes.
2020s
2020: Cut rates to near zero (0-0.25%) due to COVID-19.
2022: Began increasing rates, starting from 0.25% to 0.75%.
Notes:
Rates can vary widely based on economic conditions.
Specific dates of changes can vary within the year.
Federal Reserve actions are often influenced by economic data and trends leading up to elections.
For the most detailed and specific data, it’s best to refer to the Federal Reserve’s official records or historical economic publications.
Fed trying to prop up the economy for Comrade Kommie-La.
“and the people we serve”
yup- grocery prices ain’t coming down anytime soon
The all new weaponized Fed. Just in time for the Jamaican to win the election.
Just stop eating.
“It was the right thing to do to make sure Chlamydia Hairass gets elected”
you say that sarcastically but if the obese people in this country did exactly that it would help us in a number of ways!!!
met a guy who told me he ate grass during the depression. “it’s good with salt on it!”
Budget deficit already at $1.8 Trillion for this FY, with 2 months to go
Interest expense already >$1 trillion per year.
Fed.gov has been raising more debt at short-term durations.
So 0.5% Fed reduction will mean $hundreds of billions in near-term savings to Fed.gov interest expense.
Which is needed because the deficit continues to grow, especially headed into recession.
Weird market reaction. Stock market is down. Gold shot up and then went down again. Silver bumped up and went down again.
Fescue salad anyone!!!
>> “and the people we serve”
Maybe they meant to write “and the people we service”.
In the animal husbandry sense of the word.
“”””Weird market reaction. Stock market is down. Gold shot up and then went down again. Silver bumped up and went down again.”””
The markets do not like uncertainty and 1/2 point drop in interest rates is not enough to override the uncertainty of will it be Pres. Harris or Pres. Trump on Nov 6th.
Earlier thread on this Fed action at
https://freerepublic.com/focus/f-news/4265643/posts
posted at 2pm this afternoon has over 50 comments and counting
fascinating. sadly, I only searched for “rates”.
You are a Newbie from Jan 2024 with a subscription to The New York Times. Nice. Get everybody here to improve its click ratings.
Next time you search, try copying and pasting the entire headline.
Not just one word.
The central bank will probably cut rates again, my guess is another 1/2 percent.
Any cuts after that will signal “recessionary territory.”
But it would hurt Social Security.
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