to announce the next fuck-over of the American people. The stock market did not take it well, but there was not much trading time left today to assess the full damage. When the market opens tomorrow, that will expose what an ill-timed move this was on the part of the administration.
What are we up to now? 3%? 3.25%? Throughout the 90’s it was between 4%-6%. It probably should have returned to that after the Great Recession was over.
God knows no one in Washington is. It looks to me that the Fed realizes that they have no choice raising interest rates, even if it drives the economy deeper into a recession. Which it probably will, which isn’t good news for Democrats. This could also have a significant impact on the housing market, especially for those trying to sell their homes. On the bright side it could drive down property values lowering people’s property taxes, which will cause public schools to run low on funds.
Cuz Willy is right TWICE in the same thread! Has this ever happened before? I disagree only to the extent that the rest of the government DOES recognize the inflation problem, which is why you don't read anything about more expensive programs being passed. That leaves the Fed to its traditional role of using monetary policy to manage inflation and unemployment. Everyone else is just watching.
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