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Originally Posted by Goodnight
Spending has some influence on inflation but it's mostly supply line shortages and the cost of fuel. If the sole driver was government policy then every government in the world is at fault since inflation is worldwide.
This rate increase wasn't unexpected with the inflation still running over 8% last month, the only thing surprising is those that thought this wasn't coming.
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We knew 75 point rate was coming, its the Feds outlook on forecast on more rate hikes which causes the market turmoil. We have another rate hike coming next month either 50 or 75 hike. Unless changes are made by the Administration, we are going to 15% mortgage rates by 2024.
Inflation is not a global phenomena, Japan doesn't have it. It might appear to be global because Europe is facing it due to government stimulus plus their energy crisis. Trump was right about Europe 4 years ago energy crisis, and was laughed at by Germany delegation during his UN speech.
The United States inflation is almost entirely a result of unnecessary stimulus by the Biden Administration, plus Biden's cap on
future US energy supplies. Trump also warned against this too, this is nothing we knew wasn't going to happen.
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