By Federalreserve - April 29, 2020 FOMC Press Conference, Public Domain, https://commons.wikimedia.org/w/index.php?curid=89641447

On Wednesday, the Federal Reserve raised the central bank interest rate by 0.75% as it more aggressively fights rising costs to consumers.

NBC News reports:


On Wednesday, the central bank announced a rate increase of 0.75% — a sign it is acting more aggressively to fight rising consumer prices. It’s the first time since 1994 that the Fed raises the rate by that much.

The consumer price index, a key measure of inflation, came in at 8.6% on a year-on-year basis — hotter than expected last week. That triggered volatility in the stock market early this week. Notably, food price increases are hitting 40-year highs, while gas prices are also at a record-high. The higher-than-expected inflation reading jostled markets early in the week. On Monday, the S&P 500 officially entered bear market territory.

Market watchers say the Federal Reserve is trying to thread the needle of cooling off inflation while not tanking the broader economy.

“Chairman Jerome Powell and his colleagues are walking a monetary policy tightrope hoping to avoid a recession while dampening demand,” said Mark Hamrick, senior economic analyst at Bankrate in a note.




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raylaser
raylaser
7 months ago

Yeah, and it’s all Putin’s fault (sarc).

charles A wilkins
charles A wilkins
7 months ago

TIME FOR THE BIDENS TO PAY THE PIPER, HOW CAN WE WASTE MORE OF THE TAX PAYER MONIES, WITHOUT APPROVAL FROM CONGRESS, OR ANY AMERICAN TAX PAYOR PERMISSION, IMPEACHMENT SHOULD NOT TAKE LONG IN 2022 ,WHAT A FXXXIN WASTE OF GOVERNMENT. THIS IS THE END OF THE DEMOCRAT PARTY FOREVER. EVERYBODY IS SUING FOR HUNTER BIDEN’S TRAVEL RECORDS, ON TAX PAYER MONIES TO CUT THEIR PERSONAL FINANCIAL DEALS WITH SECRET SERVICE SECURITY PROTECTION ON AIR FORCE TWO, GATHERING THAT POT OF GOLD FOR THE BIDEN FAMILY. The biden’s pot of gold from China, what did it cost America? Inside traders must go, they are not honest,has China installed a puppet government with the Biden’s? Another staged setting for the fake biden, National Security risk? yes, the bidens are, compromised yes, they are, right down to the last 30 millions they received from China Communist ,sold us down the river to China and Russia, Wake up America there is a traitor in the White House Biden and his band of misfits are not faithful to their oath of office, ‘Stupid fxxxing laws, Stupid fxxxing reporters”, DEMOCRATS KEEP BREAKING THE USA LAWS AND JUST DON’T CARE, TIME TO VOTE THEM OUT, PELOSI CHEATS, WHERE ARE THE INSIDE TRADER INVESTIGATIONS, CONFLICTS OF INTEREST, DEMOCRATS SAY FXXX YOU AMERICA. ( Patriotic post .com} Former White House doctor Ronny Jackson has called for President Joe Biden to undergo a cognitive test, citing his shocking performances with the press. Everybody is stupid except joe biden, and of course the smartest man he ever met, was hunter biden, the corrupt fantasies of joe biden’s world of criminally insane BS. The biden crime family should be forced to return all the money they have accepted from Russia and China. Pay to play is a crime against the the United States when they broke their oath trust when sworn into office. Why keep them in power? look what they still have accomplished for China and Russia and nothing for the United States or America.

Dan
Dan
7 months ago

If the obiden administration were serious about inflation the fed would suspend the federal gas tax. But of course we know the difference between a democrat and a whore.