What happened to Biden's "Inflation Reduction Act"? Why is the FED still raising interest rates to combat inflation?

[Nostra]

Yet another hike in interest rates to combat Bidenflation.

But I thought they passed an "Inflation reduction act" to do this. Why would the FED need to raise rates to a 22 year high if that bill reduced inflation?


BTW, before someone chimes in that inflation is down, it is still twice as high as when Biden took office.

No need to try to blame ORANGE MAN BAD either. That ship sailed years ago.

Fed raises interest rates 0.25 point, opens door to another hike despite easing inflation

The Fed raised its key interest rate by a quarter point, opened the door to another hike. Inflation has eased but officials worry it could spike again

www.usatoday.com

 

[WEATHER53]

Fed chair Powell is another Fauci
Doom and gloom snd manipulating things for “our own good” while really just being punitive

 

[mamooth]

You're actually wondering why the Fed raises rates?

The Fed's job is to protect rich people. If too many working people have jobs, they can demand higher wages, which hurts the profits of rich people. When that happens, the fed steps in as does its best to increase unemployment by raising rates.

 

[1srelluc]

Fed chair Powell is another Fauci
Doom and gloom snd manipulating things for “our own good” while really just being punitive

I know one thing, the man needs to STFU.....He droned on for a hour when he could have been done in the first three minutes and relaxed someplace.

Usually when someone goes on like that it's a clear sign they are out of their depth.

 

[elektra]

You're actually wondering why the Fed raises rates?

The Fed's job is to protect rich people. If too many working people have jobs, they can demand higher wages, which hurts the profits of rich people. When that happens, the fed steps in as does its best to increase unemployment by raising rates.

Rich people who make products or provide services are better off if they have no employees?

I wish I could make you look as bad as you make yourself look

 

[Synthaholic]

Yet another hike in interest rates to combat Bidenflation.

But I thought they passed an "Inflation reduction act" to do this. Why would the FED need to raise rates to a 22 year high if that bill reduced inflation?


BTW, before someone chimes in that inflation is down, it is still twice as high as when Biden took office.

No need to try to blame ORANGE MAN BAD either. That ship sailed years ago.

Fed raises interest rates 0.25 point, opens door to another hike despite easing inflation

The Fed raised its key interest rate by a quarter point, opened the door to another hike. Inflation has eased but officials worry it could spike again

www.usatoday.com

Holy shit. You are one stupid motherfucker.

 

[Nostra]

Holy shit. You are one stupid motherfucker.

How so? Be specific, Simp.

 

[Dekster]

They have to raise them so when the poo hits the fan, they can cut them and pretend to be our saviors.

 

[Missouri_Mike]

You're actually wondering why the Fed raises rates?

The Fed's job is to protect rich people. If too many working people have jobs, they can demand higher wages, which hurts the profits of rich people. When that happens, the fed steps in as does its best to increase unemployment by raising rates.

If that were true why didn’t the interest rates double under Trump?

 

[mamooth]

If that were true why didn’t the interest rates double under Trump?

Because his economy was so lackluster.

The feds started raising rates at the end of Obama's term, to slow down Obama's economy. The rate hikes continued into the Trump admin. But then Trump cratered the economy, and rates were dropped to zero.

 

[22lcidw]

You're actually wondering why the Fed raises rates?

The Fed's job is to protect rich people. If too many working people have jobs, they can demand higher wages, which hurts the profits of rich people. When that happens, the fed steps in as does its best to increase unemployment by raising rates.

The housing costs must collapse.

 

[Nostra]

How so? Be specific, Simp.

I guess I caught Synthaholic talking out of his ass once again.

 

[Blues Man]

You're actually wondering why the Fed raises rates?

The Fed's job is to protect rich people. If too many working people have jobs, they can demand higher wages, which hurts the profits of rich people. When that happens, the fed steps in as does its best to increase unemployment by raising rates.

Except employers are crying for new hires.

Most places can't hire the people they need.

 

[CrusaderFrank]

Because his economy was so lackluster.

The feds started raising rates at the end of Obama's term, to slow down Obama's economy. The rate hikes continued into the Trump admin. But then Trump cratered the economy, and rates were dropped to zero.

Derrr derrr derrr

 

[Mac1958]

Holy shit. You are one stupid motherfucker.

I guess they're not being told what's happening with inflation.

No surprise.

 

[Clipper]

Yet another hike in interest rates to combat Bidenflation.

But I thought they passed an "Inflation reduction act" to do this. Why would the FED need to raise rates to a 22 year high if that bill reduced inflation?


BTW, before someone chimes in that inflation is down, it is still twice as high as when Biden took office.

No need to try to blame ORANGE MAN BAD either. That ship sailed years ago.

Fed raises interest rates 0.25 point, opens door to another hike despite easing inflation

The Fed raised its key interest rate by a quarter point, opened the door to another hike. Inflation has eased but officials worry it could spike again

www.usatoday.com

Burns your ass that inflation is coming down, right Ace?

Unemployment at record low numbers must really trigger you too, right Beavis?

 

[WEATHER53]

I know one thing, the man needs to STFU.....He droned on for a hour when he could have been done in the first three minutes and relaxed someplace.

Usually when someone goes on like that it's a clear sign they are out of their depth.

He’s an attention whore just like Fauci
Notice how very quiet Faucis replacement has been
There is tremendous damned up capital from the Covid hoax. People and companies started spending that money after the Covid duress was gone and inflation took off. There is No Legitimate Reason to try and curb that pent up spending desire. It’s apples to oranges chirping about a 2% necessity for the Fed to manipulate.

 

[BluesLegend]

The name of the act was a big LIE and the money was mostly used to fund Dems pet projects not reduce inflation.

 

[Synthaholic]

I guess they're not being told what's happening with inflation.

No surprise.

The storm clouds that threatened the economy under President Biden are lifting with surprising speed, as fears of an imminent recession abate just as inflation cools.

On Thursday, the government reported that the economy grew last quarter by 2.4 percent on an annualized basis — a faster-than-expected clip that bolstered confidence the United States is not about to slide into recession.


The report follows a steep drop in inflation, from 9 percent last year to 3 percent in the most recent report, and a measurable brightening in consumer attitudes. Positive news is emerging across the data: Worker pay is rising faster than prices, consumer spending remains robust, and new federal investments in infrastructure and clean energy are bolstering the overall economy. The Biden administration resolved a standoff over the debt ceiling with House Republicans, and its emergency interventions helped calm a crisis among regional banks. A deal this week between UPS and its union removed one more potential challenge to the economy.

This string of positive developments could reshape a political landscape that for more than two years has been defined by Republican accusations that Biden is mismanaging the economy. Although quick to emphasize the progress is fragile, Democratic policymakers are newly eager to boast of the strength in what has been perhaps Biden’s greatest political liability.

“This progress wasn’t inevitable or accidental — it is Bidenomics in action,” Biden said in a statement touting the economic growth numbers. “My economic plan is working — and we’re just getting started.”

Released Thursday by the Bureau of Economic Analysis, the new gross domestic product figures showed the economy expanded for the fourth straight quarter in a row, casting doubt on predictions of a recession this year.

https://www.washingtonpost.com/business/2023/07/27/gdp-q2-2023-economy/

 

[Nostra]

I guess they're not being told what's happening with inflation.

No surprise.

Ya mean the inflation that is still two and a half times higher than when your Vegetable Messiah took office, Simp?