Feds hike the interest rate in the face of banks failing because of interest rate hikes.

[Burgermeister]

The left is ruthless. Talk about stepping on the neck.

Or just the progressive reflex - if a government action makes something worse, do more of it.

Federal Reserve News: Fed Raises Rates Amid Banking Turmoil (Published 2023)

The Federal Reserve raised interest rates by a quarter-point, the ninth increase in a year, as it balances the long-running fight against inflation with the sudden tumult in banking.

www.nytimes.com

 

[Harpy Eagle]

It was a tiny jump, much smaller than it would have been without the bank issues.

 

[Dekster]

The left is ruthless. Talk about stepping on the neck.

Or just the progressive reflex - if a government action makes something worse, do more of it.

Federal Reserve News: Fed Raises Rates Amid Banking Turmoil (Published 2023)

The Federal Reserve raised interest rates by a quarter-point, the ninth increase in a year, as it balances the long-running fight against inflation with the sudden tumult in banking.

www.nytimes.com

Well other than the fact the fed chair is a republican and was first appointed by The Donald, I would otherwise agree with your sentiment that this was a bad call.

 

[1srelluc]

The dow seems to be taking it in stride. Only down about 180.

 

[johngaltshrugged]

The left is ruthless. Talk about stepping on the neck.

Or just the progressive reflex - if a government action makes something worse, do more of it.

Federal Reserve News: Fed Raises Rates Amid Banking Turmoil (Published 2023)

The Federal Reserve raised interest rates by a quarter-point, the ninth increase in a year, as it balances the long-running fight against inflation with the sudden tumult in banking.

www.nytimes.com

Most people don't even understand how the rising rates crashed the bank assets in the first place.
Another rate hike makes their bond investments worth even less thereby worsening the liquidity crises at just about all of them across the board.

The Fed say they will guarantee them but that's fools gold.
We have a collision of multiple financial crises hitting at once but most of the sheeple are still too busy watching tictac videos & posting selfies on chappedsnatch accounts

 

[jwoodie]

Well other than the fact the fed chair is a republican and was first appointed by The Donald, I would otherwise agree with your sentiment that this was a bad call.

Powell was appointed to the Fed by Obama and renominated as Chairman by Biden. Otherwise, I would agree with you.

 

[Dekster]

Powell was appointed to the Fed by Obama and renominated as Chairman by Biden. Otherwise, I would agree with you.

El Cheeto made him chair. Before that he was a noob.

 

[Resnic]

Major national banks and world banks want this. Rate hikes put more pressure on small banks, the more small banks close the more the big ones swallow them up. And big banks buying broken small ones is good for them, because one person's debt is another person's profit.

Plus everytime they squeeze the current banking system the closer they get to major financial issues and major financial issues make people afraid. People afraid will agree to anything to make the pain go away, like say they will agree to a digital dollar very quickly.

COVID is proof of that. Soon as they said "put on your mask and get your shot" millions jumped right up and did it without question and would even start to demand others do it also. If they scare people financially enough and then come out and say "were here to protect you and your money and we will fix all your money problems with our new digital currency" people will applaud them and sign right up.

 

[Independent thinker]

The left is ruthless. Talk about stepping on the neck.

Or just the progressive reflex - if a government action makes something worse, do more of it.

Federal Reserve News: Fed Raises Rates Amid Banking Turmoil (Published 2023)

The Federal Reserve raised interest rates by a quarter-point, the ninth increase in a year, as it balances the long-running fight against inflation with the sudden tumult in banking.

www.nytimes.com

You just can't make this shit up. Stupid is as stupid does. I just read a lefty media report yesterday that inflation could very well wind up being transitory. What planet do they live on? These people have no fucking clue.