The Fed is about to cut rates, come hell or high water: It's and election year. The incumbent administration "politely" requires a cut in rates. Banks desperately need a cut in rates Commercial Real Estate is in trouble. Home buyers can't afford to buy. Home owners can't afford to sell. High interest rates are messing with the Government's budget. Even the Fed itself is deeply insolvent to the tune of negative $158 billion due to the high interest rates it's paying, exceeding what it earns. Source: Clive Thompson LinkedIn
@WallStreetSilv Looks like the Fed's got a lot on its plate!
@WallStreetSilv 💯. They won’t likely be in the WH in 2024 to deal with a potential uptick in inflation. That are all in prior to the election.
@WallStreetSilv I laugh when people say "but... but ...bitcoin is backed by nothing"
@WallStreetSilv There is truth and what you’re saying no question, but inflation will run up again and cement the Arthur Burns comparison. Very much like the 1970s your damn if you do you damned if you don’t Powell should have kept hiking and drove the economy into recession, then cut rates.
@WallStreetSilv Big cuts are needed
@WallStreetSilv And that's going to play merry hell on inflation. The Fed knows the officially reported rate of inflation is at best half the reality.
@WallStreetSilv Look up the hyperinflation in the Weimar Republic 1922, and Venezuelan hyperinflation starting to really worsen 2016, both from those governments printing money to pick winners and losers in their controlled economies and think about what’s happening in the US.
@WallStreetSilv And inflation is ramping up
@WallStreetSilv Lowering our taxes would stimulate the economy too.