Jerome Powell: US central bank boss says he plans to raise rates
The US central bank's boss has indicated that he plans to press ahead with interest rate increases this month.
Virgil 2 year ago
Oh ya has it straight up. The proverbial crap is about the hit the fan. Fed can't afford to raise rates and it can't afford not to. In business terminology, the USA is insolvent.
Oh ya 2 year ago
BS. unless he raises the rate over the 7.5% it will do nothing to stop inflation. Raising it 1/4 % is like peeing in the ocean, it is a joke the US government has to borrow money now to pay interest on its national debt so they can not afford a rate hike. Average Joe household is in debt more now than ever before and can not afford a rate hike. And everyone with 2 working brain cells knows you can not raise rates as your country is headed into a recession like the US is. So he might raise it .25% and then retract it and start QE again.