Fed cuts rates by half a percentage point.
- Thread starter Aloha Hoosier
- Start date
I disagree it was time to do it ( or 25bps would have been better). Inflation is still sticky and above target. On personal level, It's good for Bitcoin.
The borrowers can't wait and the savers are all crying. . I would anticipate another drop in December, I personally thought it would be .25 this time and .5 in December.
Fun times in the banking world.
Fun times in the banking world.
credit card debt per card and in total were both at record highs with high interest. What will happen with lower interest? We are not on a sound footing with this economy.
It's good news for my business. I have had several projects put on hold and a few others that the client was considering "downsizing" because the numbers weren't working for their rate of return. We were getting slow, but this probably means that we are now going to be swamped for the rest of the year minimum.
I doubt it will drop much from the usury rates they already charge.
Dude that article is almost a year old. It doesn’t mean your point is wrong but recency is part of relevance in the world of finance and economics
This is what my life would look like if I put 95% of my networth in my Bitcoin.
This is what my life would look like if I put 95% of my networth in my Bitcoin.
Such a great video
1/2 point politics.
I agree it won't affect CC interest much if any especially existing debt. I would suggest balance transfers for those who are being killed by the high interest.
The Fed is independent of the Executive branch. The conditions are right for the cut and we should be good with it regardless of politics. Not everything is politics.
I'd suggest cutting up the cards and living within ones means, but I'm weird that way.
Everyone knew this was coming, and a quarter point has already been baked into the economic outlook. The extra quarter point isn't a surprise either, but it wasn't viewed as a sure thing.
I realized the cut was expected and pretty much baked into the market, but I didn't expect a downtick. 0.25-0.35% isn't much, I guess
Oh well. Recent gains more than make up for the late August slump
Oh well. Recent gains more than make up for the late August slump
There are many industries where this will help spur forward some idle business. Plenty of manufacturing capacity right now, in most industries. Obviously it will create some inflationary pressures though. It'll be interesting to see the impact.
Our business likes the rate cut as well. But it also means vehicle prices are going to stabilize or rise. This, in an of itself, isn't too too bad for us, though long term rising vehicle prices would be. Falling vehicle prices have been killing us for over a year.
We really like new auto/home loan growth.
I know. I saw graphs through q2 of 2024 but no accompanying story. The trend is still up.
So Powell (and 11 of 12 board governors) is part of the Dem machine, is that it?
This is what my life would look like if I put 95% of my networth in my Bitcoin.
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Not everything is political. Powell is very likely a Republican since he worked for Republican legislators as legal counsel and served in President Bush's administration. He was made Chairman of the Fed by Trump as well. The Fed is doing what the Fed usually does due to economic conditions.
Several attempts have been made in the past to cap credit card rates (as recently as last year by Hawley). Hawley proposed 18%. Bernie and AOC tried to get it capped at 15% in 2019. Both measures failed.
So Trump thinks he can cap it at 10%? Good luck with that.
So Trump thinks he can cap it at 10%? Good luck with that.
Trump says Powell, whom he appointed, is playing politics. How do you guys support this guy? He’s 85 years old going on 3 years old.
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Our populist friends are against government intervention except all the times they love it, and for balanced budgets except all the time.
There really is very little difference between Trump populists and Bernie populists.
So price controls same as Harris. He’s copying her. He’s desperate, like you.
He's just mimicking Harris. Say whatever you need to say to get as many votes as possible. My liberal friends say it's shifting to the center.
