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Loony Leftists don't understand finance. That's why they want government money and 'income equality.'
Raising credit card interest rates should encourage people not to live beyond their means. I'm guilty of the 'buy now, pay later' mentality myself so this is a wake up call.
I can't stand Trump but the Fed is a really professional group of economists that are as non-political as you can get in Wash, DC (or in there regional offices).
If anything this is one of the few federal institutions that Trump hasn't poisoned yet. I HOPE it stays that way.
The Fed would be raising interest rates at this point in the economic cycle regardless of who is President.
Agreed! I’m glad rates are rising, as they were held too low for too long. Thank goodness this is seemingly the last institution 45 hasn’t poisoned.
This is just a continuation of the fed policies under Yellen, increase in interest rates and reducing federal credit. Trump had criticized Yellen but now is silent.
I wonder how this benefits low wage workers...in addition to paying 20% more for gasoline, they all are going to be paying more for all their (vast) debt. Mortgage. Even their employers will be paying more interest on all their debts and mortgages and capital equipment....meaning less for wages.
As it stand there is zero wage growth when inflation is figured in - and that is before these hikes.
What is the end game here? Those of us who are financially secure could care less...we welcome higher interest rates. But the vast majority of people, including the forgotten man Trump said would be working his arse off and back in the saddle...they are gonna be hurting....
MAGA. Or MBGA (Make Banks Great Again).
The decision you see today is another sign that the U.S. economy is in great shape,”
- Fed Chairman Jerome Powell
This is why I do not take derangement suffers seriously.
The reason why gasoline prices are higher is because the economy is doing better , which typically raises the marginal cost of producing it, and the summer driving season.
I am sure there will be lots of other happy people who are savers who will be glad to earn interest income. Rather appropriate as well since abstaining from consumption when times are good has economic merits.
We are returning to normal rates. The economy is booming, can handle the increases and it keeps inflation in check.
Anything below 6% is still a bargain. You can whine when we hit 12-16% like we did when many of us bought our first homes.
Good job Trump.
Well you are in RE right? surely you see the danger of an imploding housing market due to interest rates making these historically unaffordable housing prices even more unaffordable.
Normally i would agree under 6 is fine.
But RE pricing is not normal it is massively inflated in many states and higher rates will hurt pricing. I know of course that historically that is not accurate, but this time i belive it is and i do very well getting these things correct.
The decision you see today is another sign that the U.S. economy is in great shape,”
- Fed Chairman Jerome Powell
This is why I do not take derangement suffers seriously.
The reason why gasoline prices are higher is because the economy is doing better , which typically raises the marginal cost of producing it, and the summer driving season.
This is a scam. We have decades to prepare for "summer driving season". Prices go up when there are shortages or unforseen circumstances. "Summer driving season" is neither.
Well you are in RE right? surely you see the danger of an imploding housing market due to interest rates making these historically unaffordable housing prices even more unaffordable.
Normally i would agree under 6 is fine.
But RE pricing is not normal it is massively inflated in many states and higher rates will hurt pricing. I know of course that historically that is not accurate, but this time i belive it is and i do very well getting these things correct.
If the prices are inflated them coming down will only bring things closer to where they are supposed to be.
If the prices are inflated them coming down will only bring things closer to where they are supposed to be.
And what if it doesn't come down? At least not for a long time?
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