The Fed’s target rate is currently 4.50% to 4.75%, a huge increase from the ultra-low level it was at a year ago.
The shift comes amid growing uncertainty about the U.S. and global banking system. The problems began over the weekend following SVB’s sudden collapse. Credit Suisse’s stock shed about a quarter of its entire value after the revelation. That dragged down the stock market more broadly and other big banks such as JPMorgan Chase and Goldman Sachs, which were each down more than 4% midday Wednesday.
Get ready for more “transient” inflation. Biden, Inc. 🔥🎻🤣🍿
Gotta follow the Dot Plot
Cuts?! That’d be preposterous.
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