Federal Reserve Chair Jerome Powell attends a meeting of the International Monetary and Financial Committee in Washington, DC, on Oct. 14. Powell is expected to announce another interest rate hike on Wednesday.Federal Reserve Chair Jerome Powell attends a meeting of the International Monetary and Financial Committee in Washington, DC, on Oct. 14. Powell is expected to announce another interest rate hike on Wednesday.
"Interest rates have risen at a whiplash-inducing speed, and we're not done yet," said Greg McBride, chief financial analyst at Bankrate."It's going to take some time for inflation to come down from these lofty levels, even once we do start to see some improvement."— unchanged from the month before. The better known consumer price index shows prices rising even faster, at an annual rate of 8.2%.
"The Fed looks at a number of different inflation barometers, and none of them is really moving in the right direction," McBride said. It's possible that Wednesday's rate hike will be the last super-sized increase for a while. Markets will be on the lookout for any signal that the Fed plans to scale back to a smaller increase in December. But McBride argues that in order to curb inflation, borrowing costs will likely have to remain elevated for an extended period.
Inflation is when the stock market is booming and everyone’s making too much money. Everyone needs to wake up
RED REMOVE EVERY DEMOCRAT
TACKLE CORPORATE GREED. Nothing else needs to be said. Even us dumb dumbs GET THIS.
I seriously doubt increased costs for homebuyers, credit card users and working people are fueling inflation. Price gouging on the other hand seems likely. American economy requires suffering
It will be difficult to lower inflation as long as Democrats are in power. They spend, spend, spend money we do not have. They are the cause of inflation.
America: Small businesses are still hanging in by a thread after Covid 2.5 years of Covid shutdowns and record inflation. Don't know how much more they can take. The Fed: Hold my beer.
It doesn’t work that way !
Interest rates won’t slow inflation that is caused by China’s continuing COVIS shutdowns, war in Europe that’s increased food and gas prices, and corporate greed because our markets are inefficient. The FED has a limited tool box that can’t address these problems.
This isn't about inflation it's about wages and the rates will keep going up until wages fall
The Fed bringing a demand-side knife to a supply-side gunfight
I think inflation rises until government reverses course on what brought it on. You can't just stay the course with poor policies and wait for it to go away.
Historically, when interest rates hit 7(ish)%, inflation will fall to a lower rate. We're not there, yet.
Most of the inflation is caused by greed. Interest rate increase won’t help.
Thanks, Biden. Mortgages were 3 percent when you took office, now 7 percent.
Stop raising interest rates! federalreserve 53% of higher costs are because of corporate greed and price fixing, raising rates will do nothing but force a recession STOP IT!
They need to be going after these companies that are price gauging us when they’re having the highest reported profits.
Central banks printed trillions of $ that made the 1% and politicians filthy rich via the stock market, and now the 99% is left with inflation, energy crisis, global war, food shortages, and unsustainable cost of living. WWIII is coming. 'You'll own nothing and be happy'
Cue all of the brainwashed Democrats who bought the Biden line that cooperate greed is causing inflation and not his terrible policies. So weird how the corporate greed just happened to start when Biden got elected. Bidenflation
This is getting so painful for us. Our HELOC has already jumped 2.25% and payments are skyrocketing. This does Jack to address the actual issue and hurts people who aren’t the cause.
Until corporations stop arbitrarily raising prices? Shouldn’t be that hard for economists to figure that out.
...demokrats did that
Stubborn inflation= Joe Biden ineptness
Inflation was caused by government overspending. Stop the over spending go back to energy independence and inflation will come down.
Rates keep rising, this doesn’t work, so keep raising them? Bananas! No wonder ppl are losing faith in government and believe in lizard ppl and conspiracy theories to make sense of these ridiculous actions.
The big question to ask. Is there any evidence that excessive borrowing is fueling inflation? can you tell us if this is the case? Something does not feel right.
We don’t need another interest hike. Gas companies need to stop price gouging. Profiteers need to get out of the housing market. The top % need to pay taxes.
Bring it on BUT DORCE THE BANKS TO PAY HIGHER DEPOSITOR INTEREST!
Money printer goes ' BRRRRRRR '
I feel like the Fed has nothing in its quiver other than abusing borrowers and enriching lenders. As if this has anything to do with the root causes of inflation.
The rate hikes are doing nothing to curb inflation. Why punish potential homeowners and renters with higher interest rates? Causing unemployment only hurts those who can least afford it. Why punish the poor when nothing is done to the Uber-rich and profiteers?
Is it inflation or corporate greed?
Fabulous. I don’t have any debt. This is great for people like me. Thank you Biden!
'Inflation' is corporate greed. Profit margins are higher every quarter. Was there a supply & demand issue? Yes. But greed latched on to the excuse of Inflation and drove it through the roof.
How about mandate a high tax if profit margins exceed a given percentage year over year. Lot of these companies charging way more, blaming inflation and costs yet profit skyrocketed. Profit % increases should stay the same if just raising prices to match yearly costs.
When are the banks going to reflect these high interest rates on our savings accounts?
Until corporate greed is addressed, I’m not sure inflation will come down.
You mean capitalist price gouging despite record profits.
How about instead of the Fed we have Congress start looking at how these corporations are taking in record profits as “inflation” soars then start talking about taxing said profits.
stu0016 Bidenflation! Americans won’t be able to own a home, buy a car, or afford their credit card bills… thank a DEMOCRAT!!! Take back the Dim total control of DC on 11/8! wednesdaythought VoteRedToSaveYourWallet
Interest rate hikes aren't going to stop corporate greed. They're just making it worse.
If the problem is corporate greed and price gouging how will interest rate hikes help?
Corporate Greed doesn't care about the interest rates. Do Better NPR
This is just another small bandaid on the gaping bleeding out wound. Amputate the corporate greed!
Thanks again Russia.
Fuel costs will remain high, driving the cost of everything else up, until 'President I'm going to end fossil fuels' changes his disastrous energy policies. Drill. Cut oppressive regulations. Accept wind and solar are insufficient. Build and modernize nuclear plants.
Are they TRYING to destroy Dem chances on election day?
Pedojoe smashing more price records with his inflation.
Can someone explain to me the logic behind dinging domestic consumers to combat global inflation? this would make some sense if it was just the US trying to tame domestic inflation, but no amount of domestic interest rate hikes are going to do much good on a global scale
Don't understand raising rates to control corporate greed and I don't trust anyone appointed by trump to make any rational economic decisions. Powell was appointed by trump.
If interest rates are not met with cuts in federal spending then it is useless. It’s time to shrink federal government spending.
This is what happens when Democrats yeet trillions of dollars into the economy and shut the country down for 2 years. The chickens are coming home to roost. Buckle up cupcakes.
Inflation will not go down because of higher interest rates. Inflation is a function of greedy corporations who raise prices because no one…for example, , ever calls them out on it.
LOL the average person is NOT still spending money they saved during the pandemic 😂
Powell is a terrible Fed Chair. He's going to overcorrect. His 'transitory' comment was huge part of the problem.
Have to look at windfall profits for corps. too. None of the rate hikes really affect that. Many CEOs and corps have now been seen on record to use inflation as the excuse to up prices repeatedly, & they have higher profits for same cost or nominal increase costs to make product.
'stubborn inflation'? What a goofy way to frame it...
Oh well. That’s the consequence of years low rates and endless money printing will do. Buckle up people.
They have crashed the home building industry what's next?
Stubborn inflation 🤷♀️ It’s called corporate greed.
They just want to crash the economy lol
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