Article

2021-09-24 Economy

'Temporary' Inflation to last longer than expected - Fed

Unexpectedly.

[Reuters] - A period of high inflation in the United States may last longer than anticipated, two U.S. Federal Reserve officials said on Wednesday, prompting one to pull forward his views on when the central bank should start raising interest rates.

Atlanta Fed President Raphael Bostic said with growth surging to an estimated 7% this year and inflation well above the Fed's 2% target, he now expects interest rates will need to rise in late 2022.

"Given the upside surprise in recent data points I pulled forward my projection," Bostic said, placing him among seven Fed policymakers who at the central bank's meeting last week projected the overnight policy rate may need to lift from the current near zero level sometime next year.

Posted by Lord Garth 2021-09-24 00:00|| || Front Page|| [11127 views ] Top

#1

Again the RantBurg readers have beat the Biden Admin to the punch.

Posted by NN2N1 2021-09-24 04:53|| 2021-09-24 04:53|| Front Page Top

#2 https://youtu.be/2TnkJ8_BmSI

Posted by Too Old To Work 2021-09-24 08:06|| 2021-09-24 08:06|| Front Page Top

#3 expects interest rates will need to rise in late 2022.

Too late. With a Federal debt of $30 trillion, each percent rise in the interest rate requires 1.4% of GDP, or 8% of total federal tax receipts, to pay for it. Only way out is ruinous inflation with low interest rates to steal Americans' and world wide dollar holders' savings.

Posted by Spereng Crins7805 2021-09-24 09:38|| 2021-09-24 09:38|| Front Page Top

#4 Inflation as a policy is a form of hidden tax, since debt repayment can be made with lesser real value future dollars, reducing the net monetary value of the debt service calculated in past dollar terms...simply put, the face value of the debt instruments is fixed, but the future repayment dollars are inflated, and in high inflation, significantly so. That it is a betrayal of the public trust to knowingly implement such a policy just goes along with all the other malfeasance attributable to the Imperial attitudes of democrats and the uniparty.

Posted by NoMoreBS 2021-09-24 12:56|| 2021-09-24 12:56|| Front Page Top

#5 Stagflation is here (again). Seen that movie.

Welcome back, Carter
Welcome back,
Welcome back,
Welcome ba-a-a-ack

Posted by Et Tu Brute 2021-09-24 13:08|| 2021-09-24 13:08|| Front Page Top

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