impish9208
9 hours ago
> Voting against this action was Stephen I. Miran, who preferred to lower the target range for the federal funds rate by 1/2 percentage point at this meeting.
Federal Reserve cuts interest rates by a quarter point
10 pointsposted 9 hours ago
by impish920812 Comments
sgerenser
6 hours ago
The dot plot is interesting, with one fed member looking to cut rates by another 125 basis points by the end of the year (Hint: it’s Trump’s guy, Stephen Miran). https://www.businessinsider.com/fed-dot-plot-one-member-want...
bediger4000
9 hours ago
Inflation seems to be creeping up. Unemployment is reasonably low. How is this justified, in light of what the Fed did in similar situations, and with respect to the recent "soft landing" of the economy, something that's very rarely been done in the past
alephnerd
8 hours ago
If you remove tech, healthcare, and real estate, we are in a recession [0]
[0] - https://www.ft.com/content/e9be3e3f-2efe-42f7-b2d2-8ab3efea2...
nis0s
7 hours ago
Is it reasonable to expect an economy to produce jobs across of all sectors equally? Is that viable or expected in a free market model? I don’t think so, but I am happy to be corrected.
alephnerd
7 hours ago
No country is a true "free market", and those sectors which represent the majority of American employment are declining.
Inflation at this point is being caused by variables that cannot be controlled by monetary policy, and those policy changes are unlikely to be solved by this administration.
redwood
7 hours ago
Has there ever been a period of time where we're not in recession if you cherry pick which Industries to pull out?
alephnerd
7 hours ago
Not recently when not in a recession. Literally every recession indicator has been flagged since May.
bediger4000
7 hours ago
With all due respect, is that fair or even real? For an imperfect impromptu analogy, the KC Chiefs had a Superbowl threepeat, if you remove that last game. Some phenomenon are "bulk", like temperature, doesn't inflation and unemployment match that?
alephnerd
7 hours ago
The US consists of multiple regional economies, and a large portion of regional economies have fallen into recession or are barely treading water.
The only regional economies that are healthy are those closely aligned with the trifecta of tech, real estate, and healthcare and those are heavily clustered in a couple of metropolitan regions.
bediger4000
3 hours ago
You've convinced me. This has nothing to do with Trump wanting the prime rate lowered. Trump's pressure on Powell and Cook had no practical effects. Thanks for clearing all that up for me, I appreciate it.
alephnerd
2 hours ago
I never said that didn't play a role - you'd have to put your head in the sand not to see that - but we are absolutely in the midst of a recession (a self inflicted one, but a recession nontheless). Did you even read TFA?