Viewing a single comment thread. View all comments

in-game_sext t1_jbn2oe7 wrote

Reply to comment by cthulhus_tax_return in Dow sheds 300 points as Friday’s key jobs report looms ahead: Live updates by OMG__Ponies

Correction: the Fed will raise rates because they kept doing it and it hasn't worked at all so why not try it some more to hurt working class Americans even more while ignoring the actual cause of inflation which is corporate opportunism

12

Aazadan t1_jbo4dz8 wrote

Raising rates is the correct move. It needed to happen a decade ago. This is still fixing issues resulting from the 2008 crash and an economy that has gotten too used to being subsidized by 0% interest rates.

7

PLEASE_PUNCH_MY_FACE t1_jbqutf0 wrote

I don't know why you're being downvoted. Capital is too expensive because credit is too cheap.

6

Aazadan t1_jbv4gt8 wrote

It’s an understandable reaction. There’s a lot of people out there that are upset the economy is cooling due to increased rates. If you walk people through the logic of why they were lowered, and the downsides of long term low rates, they’ll agree they should go up, but perhaps to not what they were before. But also ignore that pre 2008 rates were also historic lows for the time.

While it’s certainly not without its downsides, rates needed to go up, and I’m glad it’s finally happening. The original plans which should have started several years ago would have been .25% per quarter for years. But no one wanted to pay that political price.

2