Everything is under control and this is fine.
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The Federal Reserve approved a rare half-percentage-point interest rate increase—the largest since 2000—and a plan to shrink its $9 trillion asset portfolio as officials kicked into higher gear a campaign to slow inflation, which is running at a 40-year high.
The moves, approved unanimously at the end of a two-day policy meeting Wednesday by the Fed's rate-setting committee, will raise the central bank's benchmark federal-funds rate to a target range between 0.75% and 1%.
You'll recall that the Fed (which shouldn't even exist so there's that) recently raised interest rates for the first time in three years, making this the second rate hike in as many months.
The Fed blamed the economic death spiral on the usual scapegoats.
The invasion of Ukraine by Russia is causing tremendous human and economic hardship. The implications for the U.S. economy are highly uncertain. The invasion and related events are creating additional upward pressure on inflation and are likely to weigh on economic activity. In addition, COVID-related lockdowns in China are likely to exacerbate supply chain disruptions. The Committee is highly attentive to inflation risks.
I notice you didn't mention the COVID-related lockdowns and mandates in America that crippled countless businesses, did untold social and psychological harm, and the like.
Or Congress' insane "stimulus" spending that created more than 70% of all money currently in circulation over the past two years, driving us over the $30 trillion mark in debt.
And you didn't mention the long list of policies implemented by "The Big Guy" that have directly hurt everyone's wallets – from the botched withdrawal of Afghanistan to the Marxist "equity" talk to the jabby jab mandates to the shutdown of multiple American pipelines in favor of OPEC oil shipped across oceans.
The experts have been wrong on pretty much everything over the last two years. But hey, I'm sure this time a few tweaks from the mighty superheroes at the Fed will change the laws of economics!
At least homes will get even easier to buy... right?
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