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Started By
Message
Powell: Fed can maintain higher rates for "as long as needed"
Posted on 4/16/24 at 5:05 pm
Posted on 4/16/24 at 5:05 pm
quote:
SUMMARY OF FED CHAIR POWELL'S COMMENTS (4/16/24):
1. Recent data "shows lack of further progress on inflation"
2. Inflation has "introduced new uncertainty" on whether the Fed can cut rates later this year
3. Fed can maintain higher rates for "as long as needed"
4. Recent data has not given greater confidence on inflation
5. Restrictive Fed policy needs more time to work
LINK
Also, the average 30-year fixed mortgage rate jumped to 7.50% today. A new 2024 high!
Posted on 4/16/24 at 5:11 pm to stout
They are going to break something. They usually do.
Posted on 4/16/24 at 5:16 pm to stout
quote:
Fed can maintain higher rates
They need to raise the rate, not just maintain it, if they want inflation to come down.
Posted on 4/16/24 at 5:18 pm to stout
But, but, but all the realtors ( mainly male ones) that I know took to face book and said there would be three rate cuts this year. Clowns
Posted on 4/16/24 at 5:22 pm to stout
Good. Hell raise it more, whatever keeps inflation in check
Posted on 4/16/24 at 5:22 pm to stout
quote:
1. Recent data "shows lack of further progress on inflation"
I woulda thought that "inflation reduction act" would have fixed it all.
Posted on 4/16/24 at 5:35 pm to stout
They should keep the inflation. When a bag of chips is 10 bucks maybe people will lose weight
ETA: and keep high mortgage rates so us cash buyers that don’t DoorDash and lease cars can buy rent houses for cheap
ETA: and keep high mortgage rates so us cash buyers that don’t DoorDash and lease cars can buy rent houses for cheap
This post was edited on 4/16/24 at 5:37 pm
Posted on 4/16/24 at 5:52 pm to stout
Remember when this inflation was “transitory” and the fed buried its head in the sand?
Posted on 4/16/24 at 5:54 pm to stout
they are so fricking stupid, raise rates while at the same time regulating the piss out of fossil fuels, then have the balls to act like they don't understand what the issue is...
Posted on 4/16/24 at 5:56 pm to stout
Attack on the middle class continues.
Posted on 4/16/24 at 6:05 pm to stout
wait. so inflation wasn’t transitory?
Posted on 4/16/24 at 6:12 pm to stout
Yet they can't stop fricking spending money.
More money for Ukraine, more money for Israel, at some point the money flow needs to stop
More money for Ukraine, more money for Israel, at some point the money flow needs to stop
This post was edited on 4/16/24 at 6:15 pm
Posted on 4/16/24 at 6:30 pm to stout
Good. They’ve been fricking savers since 2007. Interest should be minimum 9%. But Fed has been sucking Wall Street dick for 17 years.
Posted on 4/16/24 at 6:36 pm to stout
There’s a line of thought gaining some traction that higher interest rates are fueling the economy’s growth. So much money printed in past couple years that lots of people have more money to spend as a result of higher rates. This scenario hasn’t existed in previous rate hiking environments.
Tldr, we’re screwed either way.
Tldr, we’re screwed either way.
Posted on 4/16/24 at 7:05 pm to stout
quote:
5. Restrictive Fed policy needs more time to work
You have to quit printing money
Posted on 4/16/24 at 7:09 pm to stout
We need to send billions more to Ukraine.
Posted on 4/16/24 at 7:13 pm to stout
We’re going to have demand driven moderate inflation for the next decade… the largest cluster of millennials, already being the largest population group in the country, are just entering the absolute prime of their spending years (35-45 years old). That’s going to cause a consistent demand push for the next decade that will make anything below 3% inflation extremely hard to achieve. People need to expect 3-5% as our new baseline, and prepare accordingly
Posted on 4/16/24 at 7:17 pm to stout
Makes me glad I bought TIPS at the end of 2022.
Posted on 4/16/24 at 7:18 pm to stout
Evidently rates are going to have to go up even higher to take more money out of the system and discourage people from spending their money like crazy. As long as the cash flow continues and people keep spending their money like crazy, inflation is not coming down.
I’m starting to wonder what kind of interest rate it’s going to take to stop businesses and consumers from borrowing more money, spending it all, and then going back for more. 10%? 12%?
I’m starting to wonder what kind of interest rate it’s going to take to stop businesses and consumers from borrowing more money, spending it all, and then going back for more. 10%? 12%?
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