October 31, 2022
It’s coming on Wednesday.
The Federal Reserve is going to announce another interest rate hike.
We’re looking at another so-called called “jumbo” rate increase of 0.75%. This would be four – 0.75% interest rate hikes in a row.
As I’ve told you repeatedly, the Federal Reserve makes these decisions on its own. It does not have to get approval from the president or from congress to raise interest rates. Its main mission is price stability and maintaining maximum employment.
We know the jobs market is still really strong with unemployment at 50-year record lows, but it’s the price stability part that’s causing the problem. And we all know that’s the inflation. Which is still at over 8-percent. The Fed Chair has said the fed is not going to be shy when it comes to increasing rates, because he says there is concern, if they don’t, this inflation could become entrenched in our economy. And no one wants that.
