That was Federal Reserve Chairman Jerome Powell on Sept. 21, speaking to reporters following the central bank’s meeting where the Federal Funds Rate was once again increased 0.75 percent to its current range of 3 percent to 3.25 percent in a bid to combat sticky 8.3 percent consumer inflation the past year.
Friday, September 30, 2022
Commentary: The Fed’s Interest Rate Hikes Have only Destroyed $398 Billion of the $6 Trillion It Printed
“Our expectation has been we would begin to see inflation come down, largely because of supply side healing. We haven’t. We have seen some supply side healing but inflation has not really come down.”
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Fucking Fed is causing this crap. The sane among us have been yelling from the rooftops that trillions in fairy dust fiat money and zero interest will precipitate huge inflation. But noooo, you brainiacs are so fucking smart.
ReplyDeleteAnd you're telling me that inflation is 8.3%? HAHAHA another knee slapper. Most of the food I buy is up 50%+. Lumber was sky high but has come down but electricity is soaring. 8.3% my ass.
Most of my life, home mortgage rates were 6-8%. You wanted a house, you put 20% down. Everyone made out just fine but that wasn't good enough so then you could get in for nothing down, 3% and no income. Gee, tell me how to crash a housing market without telling me how you'll do it.
The simple fact is EVERYTHING GD thing the government gets involved in, they fuck up. Than they come back with policies to fix their fuck-ups and fuck it up even worse. And on top of all of this bullshit, for some insane GD reason, it's important that Ukraine join NATO, so important that a nuclear war is being made out as reasonable.