Fed Hikes Interest Rates again, another 0.75%!

I sure hope that no one on the board is holding a credit balance

 

stocks dropped 650 in less than a hour after announcement.

 

Consumers haven't gotten the memo....

https://www.cnbc.com/2022/10/17/ban...ain higher,good position to continue spending.

 

There's some new language in the release that hints at smaller increases going forward.

 

That moment when you think about your rate and see its about half the prime rate and you're thankful you locked in when you did.

 

I listen to a lot of financial podcasts (WSJ and Barron's) and most economists on there have indicated 1/2 point in December and 1/4 point early next year.

 

Their goal is 2%. They were INSANELY late in raising the rates by 6-8 months because they thought the inflation was transitory. With the spending that Trump did at the beginning of Corona and Obiden's spending going off the rails the Fed were idiots in waiting as long as they did and they got caught with their pants down.

 

I refinanced @ 2.25% 2 years ago. In hindsight I'm a complete genius.

 

None of the data points they look at are showing much sign of curtailment since they started hiking. Wages, job openings and prices continue to rise at a less than comfortable clip.

 

There is no way to stop this. It’s worse because the fed didn’t act when they should have. Now dimwit is on tv blaming trump. It’s exhausting

 

Cries in variable rate student loans.

 

It’s killing the real estate market and really not doing much for inflation.

 

It will. It is not an insta cure.

 

Or you remember you paid it off and your rate is 0%

 

I think the FED would have been less hesitant if they did not have a dual mandate that forces them to "care" about UE. Also, I think that exogenous factors & fiscal policy are more to blame than monetary policy for inf.

 

so Dear Leader is the real victim.

 

Not sure he was saying that.

I didn’t see the remarks he is referring to but it would be real mental gymnastics to blame Trump after two big spending bills passed by Biden and his congress.
The last one was predicted by some economists to add to the inflation that was billed as Transitory by Biden and the Fed.

 

That may be true but UE wasn’t an issue last year, the job market has been very tight for about 18 months or more.