RE:Fed jacks rates 50 points this time.Higher wages? Hmm, that is opposite to what the FED is aiming for. They want the unemployment rate to tick higher, create more demand for the same job and thereby reduce wages. The unfortunate truth here is people pickled themselves with debt while rates were at historical lows. The answer is not higher wages. That would just mean inflation is here forever.
mouserman wrote: And while that was more or less expected, the bad news that followed the 50 point announcement, was that interest rate hikes are going to continue probably until 2024.Surefire war on the working class that most certainly will create a recession worthy of the history books. Home owners are already maxxing out credit cards to stay above water. There will be strikes for higher wages , as inflation has pushed the poverty level up to the working class wage level. Interest rates being continually jacked higher only increases that pain.