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CNBC: Fed again approves 0.75-point hike in response to rapid inflation
Posted on 11/2/22 at 1:30 pm
Posted on 11/2/22 at 1:30 pm
quote:
LINK
The Federal Reserve on Wednesday approved a fourth consecutive three-quarter point interest rate increase and signaled a potential change in how it will approach monetary policy to bring down inflation.
In a well-telegraphed move that markets had been expecting for weeks, the central bank raised its short-term borrowing rate by 0.75 percentage point to a target range of 3.75%-4%, the highest level since January 2008.
The move continued the most aggressive pace of monetary policy tightening since the early 1980s, the last time inflation ran this high.
Along with anticipating the rate hike, markets also had been looking for language indicating that this could be the last 0.75-point, or 75 basis point, move.
The new statement hinted at that policy change, by saying the Fed “will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.”
23
Posted on 11/2/22 at 1:33 pm to member12
Look on the bright side people. No more mean tweets.
This post was edited on 11/2/22 at 1:33 pm
Posted on 11/2/22 at 1:34 pm to member12
No end in sight. I hope nobody needs a house in the next few years.
Posted on 11/2/22 at 1:34 pm to member12
Good! The interest rates have been far too low for far too long.
Posted on 11/2/22 at 1:34 pm to member12
quote:
Along with anticipating the rate hike, markets also had been looking for language indicating that this could be the last 0.75-point, or 75 basis point, move.
"Yes. We are now moving to 100 basis point moves."
Posted on 11/2/22 at 1:34 pm to member12
How much money do you have to throw in now instead of two cents? Three-fitty?
Posted on 11/2/22 at 1:35 pm to member12
This is gonna go great with the impending diesel shortage and subsequent supply chain chaos.
Posted on 11/2/22 at 1:36 pm to OysterPoBoy
quote:
No end in sight. I hope nobody needs a house in the next few years.
Which just isn't realistic for everyone as people will have to move for a lot of reasons. Historically the rates still aren't super high but prices were inflated. Hopefully this will correct that.
Posted on 11/2/22 at 1:37 pm to OysterPoBoy
quote:
No end in sight. I hope nobody needs a house in the next few years.
Wonder how the lumber mills that invested in big expansions in 2021 will do when no one is building any damn houses.
Posted on 11/2/22 at 1:39 pm to CoachChappy
quote:
Good! The interest rates have been far too low for far too long.
frick you. Democrats created this inflation mess and now they’re genociding the middle class with this shite and taxes. Can’t even sell a sports ticket without verifying identity for tax purposes. shite is ridiculous
Posted on 11/2/22 at 1:39 pm to member12
Posted on 11/2/22 at 1:40 pm to BigDawg0420
quote:
Look on the bright side people. No more mean tweets.
tbf if the fed had any balls this would have happened years ago.
dropping rates in 2020 turned out to be a disaster
Posted on 11/2/22 at 1:40 pm to frequent flyer
They haven't slowed building and developing subdivisions here and prices are steady climbing. No idea how it's sustainable but they keep selling them.
Posted on 11/2/22 at 1:44 pm to CoachChappy
quote:
Good! The interest rates have been far too low for far too long
Raising rates does nothing to address the housing shortage in this country, and it damn sure doesn’t address supply chain issues
Posted on 11/2/22 at 1:45 pm to 3deadtrolls
What subdivisions?
The DH Horton / DSLD subdivisions run on Rural Development loans which require $0 down and closing rolled into the loan.
Developers will get paid and the government will be left holding the bag, meaning us, unless people’s approvals start getting shot down due to insufficient finances.
The DH Horton / DSLD subdivisions run on Rural Development loans which require $0 down and closing rolled into the loan.
Developers will get paid and the government will be left holding the bag, meaning us, unless people’s approvals start getting shot down due to insufficient finances.
Posted on 11/2/22 at 1:45 pm to member12
Can't be because our economy is booming.
Posted on 11/2/22 at 1:45 pm to member12
Posted on 11/2/22 at 1:46 pm to DCtiger1
The “housing shortage” in some areas is directly caused by zoning issues, rent control, etc.
The fricking house from Friday sold for over $1m because even a postage stamp in the Los Angeles ghetto is worth a lot because of it.
The fricking house from Friday sold for over $1m because even a postage stamp in the Los Angeles ghetto is worth a lot because of it.
Posted on 11/2/22 at 1:46 pm to BigDawg0420
quote:
Look on the bright side people. No more mean tweets.
Interest rates have been close to 0% since 2010, was a long time coming
Posted on 11/2/22 at 1:46 pm to Ghost of Colby
Ask the Weimar government how well that worked out for them.
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