INFLATION--FED announces 0.50% interest rate cut

[Horn6721]

The ingenuity of big companies and govt to come up with word salad excuses never ceases to amuse.
"Affordability challenges"

 

[AC]

 

[Monahorns]

Let's hope so AC, I just bought a little bit more BTC and ETH today.

 

[Chop]

Word of mouth rumors are that some banks are making it much harder to withdraw large sums of cash.

 

[mb227]

Word of mouth rumors are that some banks are making it much harder to withdraw large sums of cash.

define 'large'

 

[mchammer]

 

[Chop]

Daly (San Francisco Federal Reserve Bank) is putting out the message that the Fed should slow down on its rate hikes. In contrast to Daly, Powell is still talking an aggressive rate hiking game until inflation is under control.

 

[Chop]

U.S. job growth strong in September as labor market forges ahead

Job growth is still fairly strong (although cooling off).
Unemployment is now even lower than before.

Likely result: another (relatively) substantial rate hike.

 

[Chop]

https://www.nytimes.com/live/2022/10/07/business/jobs-report-september-economy


MONTHLY CHANGE IN JOBS

1. Sept 21 - 400,000 (FAR LEFT BAR)
2. Oct 21 - >600,000
3. Nov 21 - >600,000
4. Dec 21 - 550,000
5. Jan 22 - >450,000
6. Feb 22 - >600,000
7. Mar 22 - <400,000
8. Apr 22 - <400,000
9. May 22 - <400,000
10. Jun 22 - <300,000
11. Jul 22 - 500,000
12. Aug 22 - <300,000
13. Sept 22 - 263,000 (HIGHLIGHTED IN DARK GREY AT FAR RIGHT)


Data is seasonally adjusted.

Source: Bureau of Labor Statistics

 

[Chop]

The UN is getting pissed off about all these interest rate hikes...

UN Warns Fed to Cool Rate Hikes

UN accuses richest countries of ‘imprudent gamble’ in inflation fight

https://thehill.com/policy/3673894-...cession-as-countries-race-to-lower-inflation/

The U.N.’s ‘Pragmatic’ Policies to Stop Inflation Are Terrible | National Review

 

[Chop]

 

[Chop]

So what does the UN suggest that 1st World Countries do to fight inflation...............























PRICE CONTROLS, WINDFALL PROFIT TAXES, AND MORE REGULATIONS

UN Agency Wants Inflation to Be Fought With Price Controls, Windfall Taxes, Tighter Regulations

UN’s Grynspan Calls on Central Bankers To Halt Interest Rate Hikes

"Officials at the UN Conference on Trade and Development recommend that central bankers consider price controls and windfall taxes to combat inflation instead of continued interest rate increases."

 

[theiioftx]

When does the Inflationary Reduction Act kick in on lowering inflation? One of the administration flunkies was just on MSNBC lauding the power of this act. Does not mention when it actually will work. They hang their hat on lower prescription prices which do not kick in until 2026. If you can answer this question truthfully, also let me know when they arrest the SCOTUS leaker.

 

[iatrogenic]

So what would a truly Draconian Fed rate raise look like?

History of Federal Reserve Interest Rate Increases | Seeking Alpha

 

[mchammer]

The UN is getting pissed off about all these interest rate hikes...

UN Warns Fed to Cool Rate Hikes

UN accuses richest countries of ‘imprudent gamble’ in inflation fight

https://thehill.com/policy/3673894-...cession-as-countries-race-to-lower-inflation/

The U.N.’s ‘Pragmatic’ Policies to Stop Inflation Are Terrible | National Review

Tighter money means less money loaned to 3rd world dictators, I mean, development projects.

 

[Mr. Deez]

 

[Horn6721]

And they didn't include utility costs.

 

[mchammer]

And they didn't include utility costs.

Or rent

 

[Sangre Naranjada]

Or increased wages for twittiots like those on the thread who can't figure out that "#" means pounds of eggs, and who are screaming the whole thing is bogus because eggs don't cost $3 each.

 

[nashhorn]

That is a scary chart, real but scary.

 

[Mr. Deez]

That is a scary chart, real but scary.

It's why I don't believe the 8 percent figure - certainly not for normal things that everyday people routinely buy.

 

[Sangre Naranjada]

Thanks, inflation Joe!

 

[Sangre Naranjada]

Joe's policies inflated these too!

 

[Chop]

Protests erupt throughout France over inflation.

Meanwhile, French refiners are on strike and the union has rebuffed French oil giant Total’s latest offer.

It’s getting ugly in Brieland.

 

[AC]

 

[AC]

Word of mouth rumors are that some banks are making it much harder to withdraw large sums of cash.

Beyond rumor. It’s true but much worse in Europe and China! I wire large sums weekly and I get two day holds a lot.

 

[Chop]

Europe feeling the inflation heat:

Bloomberg - Are you a robot?

https://www.nytimes.com/2022/10/21/world/europe/inflation-prices-britain-ukraine-russia.html

 

[Chop]

https://www.cnbc.com/2022/10/21/japans-consumer-inflation-hits-8-year-high.html

Japan's inflation hits a whopping 3% -- highest in ages.
They've actually had the opposite problem of deflation.
3% is huge inflation for post-modern Japan.
Now Japan looks more like everyone else in normal times.




(Although you won't see this sort of thing in cartoons from other countries:...)

 

[Chop]

It's getting pretty dicey out there...

 

[Chop]

More doom and gloom...