FED just raised rates .75%

[HJCane]

First time since 1994 we had a rate hike this big.
They also slowed growth projections for this year to a GDP of 1.7% which I think will be generous.
He also said 3 .50 point hikes this year and a .25% which means we are looking at at least another full % point.
He is still WAY behind the inflation curve.
FED also removed the language "strong business and consumers"

Big problem for companies on revolving debt and citizens that carry debt especially at variable rates.

 

[Raoul2]

This was forecast yesterday

 

[HJCane]

This was forecast yesterday

Yeah well 3 days ago it was 1/2 point and on May 4th Powell said NO .75% rate hikes were coming.
Somehow he became more hawkish, more bold, and saw numbers that are alarming the FED.

He is STILL way under where he needs to be.

 

[Kinggeorge3]

They Dems always have to correct whatever they say within one to three weeks later on everything. Biden will be correcting all the lies he said in his speech yesterday to the Union within one to three weeks.

 

[ddimaggio]

It was needed
Plus reducing their accommodation on bond purchases
We need to slam on the breaks
The scary part is that if the democrats are in charge next congress, they will run press the BBB. Plan so we can suffer some more
The economy can be salvaged
We need to tighten our government belts , stop trying to solve all problems by throwing $$ at them
May be some pain
But the ditch Brandon dug is deep
Did Putin help ? Did Covid help ? No but the actions of the Brandonites put us in a situation where these events exploded our economy