Post New Article

Federal Reserve hikes interest rates 0.25
percentage point

Original Article

Posted By: Dreadnought, 2/1/2023 2:44:18 PM

The Federal Reserve is raising its benchmark interest rate a quarter of a percentage point, officials with the central bank said on Wednesday, its eighth consecutive hike as policy makers try to subdue inflation. The latest increase in the federal funds rate — what banks charge each other for short-term loans — is smaller than the Fed's 0.5 percentage point increase in December as well as a string of three-quarter point moves over the course of 2022. With the latest increase, the Fed's target interest rate is set in a range between 4.50% and 4.75% — its highest level since late 2007. The Fed said its campaign to curb prices

Post Reply

Reply 1 - Posted by: Northcross 2/1/2023 2:48:10 PM (No. 1392263)
Wait a minute! Joe just stopped inflation in its tracks. So why the additional rate hike?
4 people like this.

Reply 2 - Posted by: paral04 2/1/2023 2:49:38 PM (No. 1392265)
I know I am not very bright so, I don't understand how raising the cost of money will lower inflation. If borrowing money to fund crops or manufacturing materials costs more, then that increase will be passed on to the consumer. Could someone more erudite than I tell me where I am wrong?
6 people like this.

Reply 3 - Posted by: GoodDeal 2/1/2023 3:33:10 PM (No. 1392287)
Thus adding more cost for interest service on the National debt borrowing. Just in time to raise the debt limit. This is blood for Dracula bankers.
2 people like this.

Reply 4 - Posted by: valinva 2/1/2023 3:36:34 PM (No. 1392289)
#2 Inflation is a monetary phenomenon caused by too high of a money supply (M1) where too much money is chasing too few goods thereby causing the price of the good to rise because the money is worth less. This was one of the first lessons I learned in my Money and Banking Econ class back in the 1970s when inflation was really roaring and Gerald Ford was issuing WIN (Whip Inflation Now) buttons like the dolt that he was.By lessening the amount of money available by raising the cost of borrowing, the price of goods will fall relative to the dollar because there will be fewer buyers who can afford the goods.
8 people like this.

Reply 5 - Posted by: valinva 2/1/2023 3:41:01 PM (No. 1392293)
FYI, this .25% increase in the interest rate just raised the amount of interest the US must pay annually on the National Debt by over 78 Billion Dollars ($78,000,000,000). Let that sink in when Biden refuses to cut spending in order for the Republicans to agree to raise the debt ceiling.
2 people like this.

Reply 6 - Posted by: JHHolliday 2/1/2023 3:52:09 PM (No. 1392299)
I notice that the market had another good day. However, I am old and don't have time left to ride out the sell-offs. If I can claw back some of the money I lost during this last one, I am considering moving to CD's if the rate banks pay gets close to 6%
4 people like this.

Reply 7 - Posted by: Son of Grady 2/1/2023 4:28:27 PM (No. 1392308)
The economy has experienced the Earthquakes with rate hikes, soon to come the Tsunamis of earnings misses and layoffs. Which will lead to more government spending and printing.
0 people like this.

Reply 8 - Posted by: Rich323 2/1/2023 5:03:10 PM (No. 1392324)
This is their first step to avoid the coming DEPRESSION! That’s right a depression is on the horizon if you listen to the real financial experts. Major corporations laying off thousands of employees, inflation, gas going up again, etc. Try to save as much cash as you can or times you can barter with if stores empty out and prices become out of reach.
2 people like this.

Reply 9 - Posted by: DVC 2/1/2023 5:52:45 PM (No. 1392351)
We are still at something like 7% inflation which is WAY too high. Gotta slow down the creation of money, which is by the Fed.
2 people like this.

Reply 10 - Posted by: stablemoney 2/1/2023 6:04:17 PM (No. 1392362)
I think blaming the Fed is and has been nothing but a deflection of blame from the real culprits, which are the Congress and the Executive spending more money than they collect in taxes. Our government is now financed 50% by inflation, not taxation. The Fed is forced to blame for manipulating the interest rate. Taylor has proposed the Taylor rule for years which would set the interest rate at the inflation rate plus 1% automatically. Sounds good, but the government measures the rate of inflation, and would change that definition where up would be changed to down.
0 people like this.

Reply 11 - Posted by: DVC 2/1/2023 8:42:47 PM (No. 1392477)
Re #2, loans effectively "create" money because the money is simultaneously in two places at once, "in" the bank and "out" being used to buy a house or new car. Creating too much money is the root cause of inflation. Monetarists say that reduction in the money supply is the way to reverse the excessive creation of money that caused inflation. When the Dems wrote $4 trillion in new spending, at least 40% of that money was created from thin air because they didn't have the tax revenues and just used deficit spending, created government bonds ...from thin air. So, WE are pinched because the Dems were creating money out of nothing. But the Fed has only a few levers, and can't prevent the out of control Congressional spending.
2 people like this.

Reply 12 - Posted by: SALady 2/1/2023 10:36:04 PM (No. 1392532)
Can someone please explain to me why these fed interest rates are causing mortgages and loan interest rates to skyrocket, but interest paid on savings accounts hasn't budged a bit??? Something just stinks in this!!!
0 people like this.

Below, you will find ...
Most Recent Articles posted by "Dreadnought"
and
Most Active Articles (last 48 hours)
Most Recent Articles posted by Dreadnought"
Pentagon tracking suspected Chinese spy
balloon over the US
16 replies
Posted by Dreadnought 2/2/2023 6:06:35 PM Post Reply
The Pentagon is tracking a suspected Chinese high-altitude surveillance balloon over the continental United States, a senior defense official said on Thursday. The Pentagon has been tracking the balloon for several days as it made its way over the northern United States, Pentagon spokesman Brig. Gen. Patrick Ryder said. He added that the US military decided against shooting the balloon down. "The balloon is currently traveling at an altitude well above commercial air traffic and does not present a military or physical threat to people on the ground," Ryder said.
House Oversight Committee Demands John
Kerry Turn Over CCP Climate-Negotiation Documents
8 replies
Posted by Dreadnought 2/2/2023 3:22:54 PM Post Reply
The House Oversight Committee on Thursday demanded that Special Presidential Envoy for Climate (SPEC) John Kerry release documents pertaining to his negotiations with the Chinese Communist Party. In a letter obtained by National Review, committee chairman James Comer (R., Ky.) accuses Kerry of using his SPEC role — a cabinet-level position that was created by President Biden and does not require Senate confirmation — to engage “in activities that could undermine our economic health, skirt congressional authority, and threaten foreign policy under the guise of climate advocacy.” The Thursday letter represents the second such request for documents related to Kerry’s climate negotiations with America’s chief geopolitical rival;
FBI is expected to search Mike Pence's
home and office for classified materials soon
18 replies
Posted by Dreadnought 2/2/2023 1:12:27 PM Post Reply
The FBI is expected to search former Vice President Mike Pence's house in Indiana and office in Washington for additional classified materials soon, sources familiar with the matter tell CNN. Pence's representatives have been in talks with the Justice Department over the searches and have expressed that they want to completely cooperate. The Pence team does not believe there are classified documents either at his home or at his office as they have done what they considered an extensive search themselves, a source said.
House Votes to Remove Ilhan Omar from
Foreign Affairs Committee over Antisemitic Remarks
27 replies
Posted by Dreadnought 2/2/2023 1:05:26 PM Post Reply
The House of Representatives voted Thursday to remove Representative Ilhan Omar (D., Minn.) from the Foreign Affairs Committee over her history of making antisemitic remarks. The resolution, which passed 218-211 largely along party lines, was introduced by Representative Max Miller (R., Ohio.), one of two Jewish Republicans in the House “Omar has disqualified herself from serving on the Committee on Foreign Affairs, a panel that is viewed by nations around the world as speaking for Congress on matters of international importance and national security,” he said in announcing the resolution. Omar “cannot be an objective decision-maker
New Jersey councilwoman Eunice Dwumfour
shot and killed, authorities say
13 replies
Posted by Dreadnought 2/2/2023 10:56:26 AM Post Reply
A 30-year-old councilwoman in the borough of Sayreville, New Jersey, was found shot to death in her car on Wednesday, according to authorities. County officials said police responded to reports of shots fired after 7 p.m. and discovered a woman in her vehicle who sustained multiple gunshot wounds and was pronounced dead on the scene. The woman was identified as Eunice Dwumfour, a Republican councilwoman, the officials said. Sayreville Mayor Victoria Kilpatrick said she was "shocked and saddened" to learn of Dwumfour's death, saying she was "taken from us by a despicable criminal act." She and Dwumfour worked closely together on the council, she wrote.
Governor Abbott: election irregularities
in Harris County may necessitate new elections
14 replies
Posted by Dreadnought 2/1/2023 2:50:01 PM Post Reply
Harris County Texas is huge. If it were a state it would rank 25th in population, just behind Alabama. Almost 5 million people live there. Nine members of the U.S. House of Representatives hail from or represent the county, as well as 24 state representatives. At its center is Houston, which is reliably Democrat, but the county as a whole is a swing district these days with both Democrats and Republicans winning elections. In other words, how well the elections are run matters a lot, not just to the citizens of the county itself, but to the overall balance of power in the state and country. Guess what? The elections were run
Federal Reserve hikes interest rates 0.25
percentage point
12 replies
Posted by Dreadnought 2/1/2023 2:44:18 PM Post Reply
The Federal Reserve is raising its benchmark interest rate a quarter of a percentage point, officials with the central bank said on Wednesday, its eighth consecutive hike as policy makers try to subdue inflation. The latest increase in the federal funds rate — what banks charge each other for short-term loans — is smaller than the Fed's 0.5 percentage point increase in December as well as a string of three-quarter point moves over the course of 2022. With the latest increase, the Fed's target interest rate is set in a range between 4.50% and 4.75% — its highest level since late 2007. The Fed said its campaign to curb prices
Florida Democrat agrees with DeSantis
on AP African American history course:
'I think it's trash'
6 replies
Posted by Dreadnought 2/1/2023 1:11:32 PM Post Reply
Leon County Commissioner Bill Proctor, a Black Democrat, agreed with Florida Gov. Ron DeSantis, R., last week that a proposed AP African American history course that was rejected by the state's Department of Education constitutes propaganda rather than a legitimate educational curriculum. DeSantis blocked the course on grounds that it violated the Sunshine State's Stop WOKE Act that was passed last year. "I think it’s trash," Proctor said about the curriculum. "There is grave concern about the tone and the tenor of leadership’s voice from the highest spaces in our state being hostile to teaching of African American history," he noted. "Well frankly I’m
College Board revises African American
studies class after DeSantis criticism
10 replies
Posted by Dreadnought 2/1/2023 11:31:32 AM Post Reply
The College Board on Wednesday released a revised version of an Advanced Placement African American studies course following criticism from Florida Gov. Ron DeSantis (R), who refused to allow the program to run in the state’s schools. In a new framework for the course reviewed by The Hill, Black writers and scholars associated with critical race theory have been scrubbed from the curriculum, as have those who touch on the Black queer experience and Black feminism. Other topics, like Black Lives Matter, are now optional. The Board also added “Black conservatism” as a potential research topic. David Coleman, the head of the College Board, told The New York Times
Bombshell: NIH knew that grants to researchers
were dangerous, but didn't monitor them
9 replies
Posted by Dreadnought 2/1/2023 11:17:31 AM Post Reply
The Office of the Inspector General dropped a new report about the relationship between the National Institutes of Health, the EcoHealth Alliance, and the facilities that received grants from the organization. The contents do not reflect well on either the NIH or the EcoHealth Alliance. They were playing with fire, knew it, and failed to ensure that safety was front and center when messing with microbes. The report is entitled quite sexily: THE NATIONAL INSTITUTES OF HEALTH AND ECOHEALTH ALLIANCE DID NOT EFFECTIVELY MONITOR AWARDS AND SUBAWARDS, RESULTING IN MISSED OPPORTUNITIES TO OVERSEE RESEARCH AND OTHER DEFICIENCIES. Catchy title, as you would expect from the Inspector General’s office.
Florida legislators expected to tackle
Disney in special session next week
4 replies
Posted by Dreadnought 2/1/2023 12:15:23 AM Post Reply
Tallahassee, Fla. — The Republican-controlled Florida Legislature is expected to hold a special session next week, where it will deal directly with Disney World’s Reedy Creek Improvement District. Bryan Griffin, a spokesperson for Gov. Ron DeSantis, confirmed in a statement Tuesday that “the governor’s office anticipates a special session next week on Reedy Creek, and other items,” a signal that the governor’s office could be increasing pressure to get something done ahead of the regular session that is scheduled to start in early March. Under Florida law, the governor can call a special session on his own, or legislative leaders can agree to hold one. Griffin did not provide any additional details
Biden’s base: Why he won’t end the
COVID ‘emergency’ for months
17 replies
Posted by Dreadnought 1/31/2023 11:10:55 PM Post Reply
Hey, guess what? The COVID emergency is over — three months from now! God made the universe in six days. It will take President Joe Biden about 240, all in all, to bring an end to an “emergency” that ought to have been over the very moment he said it was over in September 2022. I know Joe Biden isn’t God, to put it mildly, but this is setting the bar a little low even for a president who has redefined the meaning of the phrase “setting the bar low.” To recap: The president declared the crisis moment had passed Sept. 18, 2022, when he appeared on “60 Minutes”
Most Active Articles (last 48 hours)
'Let's start treating each other with
respect': Biden's plea to Kevin McCarthy
and Republicans - as GOP prepares to investigate
his family and Hunter
46 replies
Posted by Imright 2/2/2023 11:01:41 AM Post Reply
President Joe Biden extended an olive branch to Speaker Kevin McCarthy at the National Prayer Breakfast on Thursday, sitting next to him at the event for Democrats and Republicans. Biden, who is facing investigations from GOP lawmakers who are targeting his administration and his son Hunter, also implored the members of Congress to treat each other with respect, saying he and the speaker would model that behavior. His comments came after he met with McCarthy at the White House on Wednesday to discuss a way to raise the nation's debt ceiling.
University’s Ban On Cheating, Plagiarism
‘Unfairly Targets’ Minority Students,
Ivy Leaguer Claims
45 replies
Posted by NorthernDog 2/1/2023 8:53:56 AM Post Reply
A Princeton University student argued in a Sunday night opinion article that the school’s Honor Code unfairly impacts racial minorities, citing parallels to the U.S. criminal justice system. The Ivy League school’s Undergraduate Honor Code lays out standards for student conduct that all undergraduate students must abide by and prohibits students from plagiarizing or cheating, according to its website. Emilly Santos, author of the op-ed and Princeton University student, likened the code to the United States criminal justice system to propose that it “disadvantages” minority students. (Snip) “FLI students, like many students, are often afraid of disappointing family and friends,”
Trump knocks DeSantis as ‘rino globalist’ 43 replies
Posted by Solid_Oak 2/1/2023 12:43:16 PM Post Reply
Former President Trump accused Florida Gov. Ron DeSantis (R) of being a “RINO GLOBALIST” on Wednesday, continuing his attacks on the potential 2024 contender widely viewed as his biggest competition for the Republican nomination. “The real Ron is a RINO GLOBALIST, who closed quickly down Florida and even its beaches,” Trump said in a post on Truth Social. “Loved the Vaccines and wasted big money on ‘testing.’ How quickly people forget!”
Hunter Biden FINALLY admits infamous laptop
is HIS as he sends letters to prosecutors
demanding investigations into Trump allies
Steve Bannon and Rudy Giuliani for peddling
hard drive to media
35 replies
Posted by Imright 2/2/2023 12:19:52 AM Post Reply
Hunter Biden is going on the offense with his lawyers now asking the Justice Department to investigate former President Donald Trump's allies, who peddled his laptop's hard drive to media outlets in the run-up to the 2020 election.  The first son's lawyer Abbe Lowell asked the DOJ to probe former Trump strategist Steve Bannon, campaign lawyer and former New York City Mayor Rudy Giuliani, Giuliani's lawyer and the owner of the Wilmington computer repair shop, John Paul Mac Isaac, who obtained the laptop in April 2019. 
South Carolina's Nikki Haley set to announce
2024 presidential run: Trump's ambassador
to the United Nations joins former boss
in hunt for Republican nomination
32 replies
Posted by Imright 2/1/2023 1:59:20 AM Post Reply
Nikki Haley is reportedly going to announce her presidential campaign on February 15 - Trump's former UN ambassador joined the former President on his bid for the Republican nomination.  On Wednesday, supporters of the former South Carolina governor will get an email invitation to a February 15 launch event in Charleston, at which she plans to announce her campaign, according to a person familiar with the plans but not authorized to speak publicly about them told The Post and Courier.  When she enters the race, Haley will be the first contender to join the contest against her former boss, who is currently the sole Republican seeking his party's 2024 nomination.
Trump's line of attack on DeSantis is
uncharacteristically stupid
31 replies
Posted by Garnet 2/2/2023 1:50:15 PM Post Reply
Donald Trump is not stupid. His opponents have always underestimated him because of the colloquial way he talks–sounding vastly different than most people in the highly educated class. Not sounding educated, they assume he isn’t and by extension isn’t smart. But in recent weeks Trump has been acting as if he is stupid, and I have to say I am surprised. Trump has been attacking Ron DeSantis on the COVID lockdown issue, arguing that the governor’s reputation as a freedom fighter is unearned. Trump even implies that DeSantis was something of a COVID fascist, while Trump himself was fighting to reopen the American economy. That is a profoundly stupid line of attack.
He’s Shot: Joe Biden: “More Than Half
the Women in My Administration are Women” (Video)
30 replies
Posted by Imright 2/2/2023 5:24:51 PM Post Reply
Joe Biden on Thursday delivered remarks to mark the 30th anniversary of the Family and Medical Leave Act. Former president Bill Clinton joined Joe Biden at the White House to mark the 30th anniversary of the law he signed in 1993.(Photo) Biden told the usual lies during his speech in the East Room such as “wages are up” and his economic plan is making “real progress” with the working class.What’s left of Biden’s brain also malfunctioned. Joe Biden welcomed Bill Clinton to “the United States Congress” – as he welcomed the former president to the White House.
Ron Klain sobs uncontrollably, praises
Biden’s parenting, VP at goodbye party
29 replies
Posted by PageTurner 2/2/2023 8:34:39 AM Post Reply
WASHINGTON — Outgoing White House chief of staff Ron Klain broke down in tears over and over again Wednesday while handing over power to his successor Jeff Zients — going so far as to praise President Biden as a role model for parenting and Vice President Kamala Harris as a great officemate. “This is the best job I ever had,” the 61-year-old Klain blubbered as he began his remarks at an East Room transition celebration, forcing his 80-year-old boss to supportively rub his shoulder as he regained his composure. In the moments when he wasn’t crying, Klain seemed to confirm that Biden is running for reelection in 2024
Cringe: Kamala Harris Roasted For Her
Description of Astronaut’s Space Launch (Video)
28 replies
Posted by Imright 2/1/2023 9:51:29 AM Post Reply
She’s one heartbeat away from the presidency. Kamala Harris on Tuesday presented the Congressional Space Medal of Honor to former NASA astronauts Robert Behnken and Douglas Hurley. The two astronauts were honored at the White House for piloting the NASA SpaceX Demonstration Demo-2 mission back in 2020. Harris delivered remarks at the ceremony on Tuesday and she sounded like she was talking to a room full of kindergarteners.
House Votes to Remove Ilhan Omar from
Foreign Affairs Committee over Antisemitic Remarks
27 replies
Posted by Dreadnought 2/2/2023 1:05:26 PM Post Reply
The House of Representatives voted Thursday to remove Representative Ilhan Omar (D., Minn.) from the Foreign Affairs Committee over her history of making antisemitic remarks. The resolution, which passed 218-211 largely along party lines, was introduced by Representative Max Miller (R., Ohio.), one of two Jewish Republicans in the House “Omar has disqualified herself from serving on the Committee on Foreign Affairs, a panel that is viewed by nations around the world as speaking for Congress on matters of international importance and national security,” he said in announcing the resolution. Omar “cannot be an objective decision-maker
‘She’s doomed!’ Greg Kelly pulls
up blast from Nikki Haley’s past, says
her candidacy is ‘D.O.A.’
26 replies
Posted by Imright 2/2/2023 11:07:40 AM Post Reply
For as much as politicians love the clever soundbites they spew to the salivating press, it is downright amazing how they forget that the internet is forever the moment they deliver them. Take former South Carolina Governor and ex-United Nations Ambassador Nikki Haley, who is expected to officially announce her bid for the White House on Feb. 15. It’s a move Newsmax host Greg Kelly called a “big, big, big mistake” given her previous remarks. (Video)“This is Nikki Haley and she thinks she can be president,” Kelly began. “Wow big, big, big mistake,” he said. “I mean, these career politicians, right? They really stand for nothing,
Walz signs CROWN Act, banning racial discrimination
based on hairstyles
26 replies
Posted by voxpopuli 2/1/2023 5:18:01 PM Post Reply
Gov. Tim Walz has signed a bill that prohibits racial discrimination based on hairstyles. Wednesday, the governor signed the “Creating a Respectful and Open World for Natural Hair (CROWN) Act” into law. However, a ceremonial bill signing is planned for later this week. (snip) “Black people in Minnesota, and across the country, deserve to show up as their full, beautiful selves, without the fear of hair discrimination.”
Post New Article