Fed Officials Say Higher Rates Are Needed To Bring Down Inflation

[Willie99]

Fed Officials Say Higher Interest Rates Are Needed to Reach 2% Inflation Goal

(Bloomberg) -- Three Federal Reserve officials on Monday said policymakers will need to raise interest rates further this year to bring inflation back to the central bank’s goal. Most Read from BloombergTurkey Agrees to Back Sweden’s NATO Bid in Boost to AllianceErdogan Just Doomed Turkey's EU...

finance.yahoo.com

Yep, that strategy has been working like a charm, let's have more of it. Reality is they're fucking up everything they're trying to fix. Just like QE1 and QE2 and QE Into-Infinity-&Beyond, government's attempt to micro-manage the economy (read the world) fails. They're not the solution

The stupid fucks don't even realize today's inflation is more about the supply side, including the labor force, than it is the demand side. They're trying to decrease demand when what we need is economic growth and increased supply.

 

[HacheMan]

Agree it's hurting far more than helping

I've had a Discover Card forever but just got rid of it because they kept taking advantage of this BS and raising the interest, despite my credit being close to perfect

So I cancelled it and went with local midflorida

I also need to get a vehicle for my daughter but I refuse to do it until the interest rates come down they can kiss my azz

 

[Willie99]

Maybe a dealership will offer a great rate, but that usually results in a higher price.

Just checked at NFCU. New car rates around 4.75 and used car at 5.75. Obviously will not influence the price. You can negotiate a better price without them throwing financing into the mix. Maybe you should check out some local credit union bank, might be your best option to finance a vehicle. I think credit unions tend to be a better option with better service

 

[HacheMan]

Maybe a dealership will offer a great rate, but that usually results in a higher price.

Just checked at NFCU. New car rates around 4.75 and used car at 5.75. Obviously not influenced by the price. Maybe you should check out some local credit union bank, might be your best option to finance a vehicle. I think credit unions tend to be a better option with better service

Thanks Willie

I've checked but in comparison I have a new vehicle I got before all of this BS started and the rate is only 2%

 

[Willie99]

I know, and mortgages were less than 3% too

 

[HacheMan]

Truth be told all of this could have more to do with that new thing they announced a while back where those with bad credit Will get virtually equal treatment compared to those that do have good credit

And we are just picking up the slack & paying the difference for the irresponsible ones

 

[slapshot]

They voted for this shit

 

[skoda]

They voted for this shit

"THEY" need money "THEY" take from Social Security, no Interest. Bottomless Pit as long as we keep giving. I was told at Social Security that it isn't my money. I said how did it get there. They SS is withholding 4 payments of my SS because I went over earnings cap in 2022 and they are taking from 2023 in anticpation of going over limit in 2023?

She said we would rather owe you then me owing them? The US government owes the Social Security fund an estimated $2.9 trillion, which has been used and not repaid??

 

[JackStraw77]

Money was cheap for a long time. For those complaining now. Remember when Jimmy Carter was in office and treasuries were 15% for 30 years.

 

[REDEYE]

Thanks Willie

I've checked but in comparison I have a new vehicle I got before all of this BS started and the rate is only 2%

Did the same thing last year with a 2% loan.