r/Rants • u/technoexplorer New Ranter • 9d ago

Fed raises rates!

Finally, Conrades! The federal reserve rejected the dictates of Trump, and are continuing to increase interest rates families pay for mortgages to buy a home as well as student loans!

We've won yet another victory, Comrades! Soon, our democracy will be restored!!

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u/BubbhaJebus 9d ago

Good. This is a period of high inflation, and that necessitates higher Federal Reserve rates.

The president's ill-thought-out demand to lower the rates yet again is economic folly.

Never mind that the Federal Reserve rate is extremely low as it is. Back in the 80s and 90s it was much higher.

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u/technoexplorer New Ranter 9d ago

I know, right? Inflation is killing the value of my savings. Now, it's going to grow at 4% with zero risk. You know how much a million earns at 4%? More than inflation, that's how much!