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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....
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.
You're aware that they raise rates - or more accurately, stop printing money and let interest rates rise to something resembling a market rate - because the economy is good, right. They had to print money at record levels to hold interest rates at zero during Obama's entire tenure to keep people spending despite the so-called "recovery." This is great news.
All US presidents directly control interest rates with a system of levers and pulleys located in a secret compartment is the Oval Office. The same secret compartment contains levers that control global oil prices, the unemployment rate, the economic growth rate, the inflation rate, global CO2 emissions, and the severity of your wife’s period.
Shame it is only 2 more this year, they should have done 6 this year. Hopefully they do 6 next year. We need to get above 7% before the next recession or we will have nothing in our toolbox to fight it.
Keeping rates so low for so long is easily one of the worst policies of the Yellen era.
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).
Just change your user name & open a new account. You'll never live this thread down.
I already saved it & look forward to linking it often when you post.
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