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Is the era of magic money over?

Zam-Zam

Senator


i think so. now, many will have to relearn what it means to control and manage their spending and finances

Here's some encouragement from the Fed:

"No one knows whether this process will lead to a recession or, if so, how significant that recession would be," Powell said Wednesday afternoon in a press conference following the central bank's policy announcement, which came after a two-day monetary policymaking meeting.

Perhaps Biden and his minions can pass a "Credit Card Loan Forgiveness Act", or some such folderol.
 

PhilFish

Administrator
Staff member
Here's some encouragement from the Fed:

"No one knows whether this process will lead to a recession or, if so, how significant that recession would be," Powell said Wednesday afternoon in a press conference following the central bank's policy announcement, which came after a two-day monetary policymaking meeting.

Perhaps Biden and his minions can pass a "Credit Card Loan Forgiveness Act", or some such folderol.
interesting that they (the stewards of our nations financials) basically take a pass on any sort of demonstrable thought on what may happen.

lol. yet, rate increase after rate increase...
 
interesting that they (the stewards of our nations financials) basically take a pass on any sort of demonstrable thought on what may happen.

lol. yet, rate increase after rate increase...
It's not the Fed's job generate economic growth. It's the Fed's Job to create a stable currency. The Fed is doing its job.
 

Zam-Zam

Senator
interesting that they (the stewards of our nations financials) basically take a pass on any sort of demonstrable thought on what may happen.

lol. yet, rate increase after rate increase...
When you're a hammer, every problem looks like a nail...They have one playbook, they keep going to it, and keep getting the same unfavorable result.

So, hey, let's try it again.
 

bdtex

Administrator
Staff member
Indeed...401Ks are taking a hit everywhere, paying off loans will take longer, etc.

And things just cost more now.

And if anyone in charge has a clue, they seem to be keeping it a secret.
I have been a saver and pretty good steward of the abundant provision I've been blessed with since 1987. Not so much before then. Otherwise, I'd really be screwed.
 
it's not? odd. all this stimulus, and low rates, etc... now you say it's not their job? hmm..
The stimulus came from congress, which is a completely different entity than the Fed.
And the Fed had a second job- to maintain full employment. In the past decade they lowered rates to promote full employment and to ward off the threat of deflation.

The situation has changed. So has the response.
 

PhilFish

Administrator
Staff member
The stimulus came from congress, which is a completely different entity than the Fed.
And the Fed had a second job- to maintain full employment. In the past decade they lowered rates to promote full employment and to ward off the threat of deflation.

The situation has changed. So has the response.
Naturally. The net result is the same
 
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