Biden needs to negotiate and compromise . His far left handlers are rightly betting that the media will back the Dems and make the Republicans out to be the bad guys as usual.This could make it harder to get a deal done.
the thing is, is objectively clear that the Dems are correct here. Prior congresses authorized the spending and it's the job of this congress to pay for it. There's no logical way to disagree with that.
All the Rs can say in their defense is 'this is how DC works.' What they should do is raise the debt limit to pay the old bills, and then negotiate the spending cuts they want in the new budget. That's how this is supposed to work.
You wouldn’t know objectivity if it came up and smacked you in the face.
Spending out of control and the Demonrats say they won’t cut a dime going forward. Screw the Fake News media who will try to put all the blame on Republicans. Hope they stand firm and don’t cave like usual.
Time to take our country back from the crazy leftists.
back at around the October lows there was a lot of talk about when the Fed would stop hiking. The futures markets said we'd get to 5%ish by today. Judging by the comments, opinion was split. Some felt the economy would break before then and the Fed would halt. Others felt that inflation would be sticky, requiring the Fed to keep hiking.
Turns out that both were correct. We did break stuff but the Fed kept hiking. Ultimately the Fed did reach the level futures markets predicted.
Chalk one up for the accuracy of the crowd.
Bespoke @bespokeinvest The terminal rate for Fed Funds is up to 4.955% this morning projected at the May 3, 2023 meeting. That's another 187 basis points of hikes from the current effective Fed Funds rate of 3.08%. Do they get there? 8:58 AM · Oct 19, 2022
The terminal rate for Fed Funds is up to 4.955% this morning projected at the May 3, 2023 meeting. That's another 187 basis points of hikes from the current effective Fed Funds rate of 3.08%. Do they get there?
The S & P is up about 13% annually over the last 10 years.
The last 10 years for the NASDAQ has had a mean annual return of 19%.
Where are all these experts (i.e., fools) who predicted a market collapse over the last decade?
The next time an "expert" predicts doom and gloom for the market -- just ignore them. They have no clue what the market is going to do (except go up as the market ALWAYS does over the long haul).
The S & P is up about 13% annually over the last 10 years.
The last 10 years for the NASDAQ has had a mean annual return of 19%.
Where are all these experts (i.e., fools) who predicted a market collapse over the last decade?
The next time an "expert" predicts doom and gloom for the market -- just ignore them. They have no clue what the market is going to do (except go up as the market ALWAYS does over the long haul).
And you never see these "experts" admitting they were wrong.
This is your typical market "expert" explaining they were not 100% right.
quarter point and speech at 2:3o Eastern, about 20 minutes. Markets will be listening for forward guidance but his statement out a few minutes ago leaned dovish with letting up for a while on further hikes.
Powell says a pause to raising of interest rates will need to be made contingent upon further data and is not prepared to make an announcement of a pause at this time.
Very informative speech delving into wage growth, banking issues, likelihood or a recession, target rate, etc. I didn't hear anything too surprising.
Fed speech by Powell just ended. In closing he mentioned that a rate cut later in the year, which had been hoped for by the markets, was not in their forecast. And markets took a little dive at that point, and went from being mildly up to slightly negative on the day.
This post was edited 3 minutes after it was posted.
An inflation-ending recession is often caused by Fed raising rates.
So far the Fed has raised interest rates but that has not yet caused a recession.
And inflation has fallen, but not all the way it needs to.
So does the Fed keep hiking to get that recession? Or does the Fed have some kind of faith and hope that inflation will end with rates at this level, without a recession.
Fed seems to be saying the best course of action is to wait and see at this point. that interest rate hikes take a while to act, and we'll know more down the road. Hiking too much could do too much damage to the economy.
An inflation-ending recession is often caused by Fed raising rates.
So far the Fed has raised interest rates but that has not yet caused a recession.
And inflation has fallen, but not all the way it needs to.
So does the Fed keep hiking to get that recession? Or does the Fed have some kind of faith and hope that inflation will end with rates at this level, without a recession.
Fed seems to be saying the best course of action is to wait and see at this point. that interest rate hikes take a while to act, and we'll know more down the road. Hiking too much could do too much damage to the economy.
Yes, agreed. But he did specifically address that interest rates are not a direct corollary to containing inflation, and that the banking crisis, if we call it that, and it's resultant tightening of lending, is doing some of the work for the Fed in cooling the economy. Since they need to see how this plays out (read: get more data), they kicked the can down the road to see how all this plays out before they determine how much more but be necessary or if they might pause. But he did say that an actual cut is less than likely later this year.
wow, just looked up a couple and decimation. I wonder what tomorrow will bring.
Sp500 futures are down just 30 bps...nothing much to speak of so far.
rumours coming down the pike are that the government will soon create some sort of no-limit FDIC insurance. But that's not really the problem...the problem is that this set of regional banks can only survive when they pay people ultra-low interest rates on deposits and the money stays. Meanwhile all the bonds the banks hold are paying just 2% and mark to market with big losses.
Now people can easily and safely get 5% so they are draining their cash from banks and putting it into treasuries, ibonds, money market, whatever.
I don't know how this ends well.
This post was edited 9 minutes after it was posted.
wow, just looked up a couple and decimation. I wonder what tomorrow will bring.
Sp500 futures are down just 30 bps...nothing much to speak of so far.
rumours coming down the pike are that the government will soon create some sort of no-limit FDIC insurance. But that's not really the problem...the problem is that this set of regional banks can only survive when they pay people ultra-low interest rates on deposits and the money stays. Meanwhile all the bonds the banks hold are paying just 2%.
Now people can easily and safely get 5% so they are draining their cash from banks and putting it into treasuries, ibonds, money market, whatever.
I don't know how this ends well.
Yeah, understood.
But at the risk of being unsympathetic and self-centered, I opened up one of those 5% APY savings accounts available now and have it partially funded already. Nothing to squak at with rates like that, no fees, no min, deposit., and you don't have to keep the deposit for any stipulated duration like you would for a CD.
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