Fed Cuts Interest Rate

Wednesday, September 18, 2024

The Federal Reserve on Wednesday enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to head off a slowdown in the labor market.

Posted by reinheitsgebot at 02:26 PM | 18 COMMENTS | permalink | Comment on This Entry |

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I HATE JEROME POWELL!!!

~ Fat Donnie Two Scoops ~

#1 | Posted by reinheitsgebot at 2024-09-18 02:18 PM | Reply

DJT has jumped -3% on the news.

#2 | Posted by REDIAL at 2024-09-18 02:27 PM | Reply | Funny: 4

Lower gas prices, lower inflation.... lower interest rates... is Old Man Trump on the Safety Watch again?

#3 | Posted by Corky at 2024-09-18 02:32 PM | Reply | Newsworthy 1

Little more than expected, hopefully this unleashes home sales. Lots of inventory in the game right now.

Home sales are good for the economy, lots of secondary effects.

Also might help with the government debt servicing, but that's a long term problem.

#4 | Posted by oneironaut at 2024-09-18 03:29 PM | Reply | Funny: 1 | Newsworthy 1

50 basis points in a Hail Mary pass in hopes of pumping up the stock market enough to influence voting. It's like giving Shamu a tic tac.

#5 | Posted by lfthndthrds at 2024-09-18 03:47 PM | Reply | Funny: 1

Thanks, Obama!

#6 | Posted by cbob at 2024-09-18 03:51 PM | Reply | Funny: 1

50 basis points in a Hail Mary pass in hopes of pumping up the stock market enough to influence voting. It's like giving Shamu a tic tac.

#5 | Posted by lfthndthrds

Always a conspiracy

#7 | Posted by Sycophant at 2024-09-18 04:31 PM | Reply | Newsworthy 3

50 basis points in a Hail Mary pass in hopes of pumping up the stock market enough to influence voting. It's like giving Shamu a tic tac.

#5 | Posted by lfthndthrds

Why would trump's fed pick do that for harris? Does he hate trump like all the other people trump hired?

#8 | Posted by SpeakSoftly at 2024-09-18 04:31 PM | Reply | Newsworthy 4

Pump up the stock market? It's been at record levels for months.

#9 | Posted by LegallyYourDead at 2024-09-18 05:01 PM | Reply | Newsworthy 3

Pump up the stock market? It's been at record levels for months.

#10 | Posted by LegallyYourDead at 2024-09-18 05:01 PM | Reply

Tommy Tumbleville has the sads.

Coach Tommy Tuberville
@SenTuberville
Proud of Fed Governor Miki Bowman for bucking Jay Powell.

The Fed's drastic rate cut is shamelessly political.

Our nation's central bank has no business moving rates this close to an election and is clearly trying to tip the balance in favor of Kamala Harris.

x.com

#11 | Posted by reinheitsgebot at 2024-09-18 05:03 PM | Reply | Funny: 2 | Newsworthy 1

#11 ... Boy, I say, boy ... Ol' Coach is about as sharp as a bowling ball.

#12 | Posted by cbob at 2024-09-18 05:19 PM | Reply | Funny: 3 | Newsworthy 1

"pumping up the stock market enough to influence voting."

Who doesn't like "pumping up" the stock markets?

Certainly Donald Trump does.

Wall Street sets record highs after passage of Donald Trump's tax cuts

Trumpy was all about bragging about priming the stock market and how well it's all going under his " leadership". Until it crashed in him in 2018.

Whoops!

#13 | Posted by donnerboy at 2024-09-18 05:22 PM | Reply

The orange toddler is crying foul-did anyone NOT expect that? Where's a cholesterol induced heart attack when you need one.

#14 | Posted by Yodagirl at 2024-09-18 06:55 PM | Reply

Lower gas prices, lower inflation.... lower interest rates... is Old Man Trump on the Safety Watch again?

#3 | Posted by Corky at 2024-09-18 02:32 PM | Reply | Flag

Bring in assassin #3!

#15 | Posted by Nixon at 2024-09-19 07:32 AM | Reply

Coach Tommy Tuberville

Tommy Tumblevile Jr Senator from the state of CTE.

#16 | Posted by Nixon at 2024-09-19 07:34 AM | Reply

Trumpy was all about bragging about priming the stock market and how well it's all going under his " leadership". Until it crashed in him in 2018.

Well his tax cut did nothing but drive the deficit through the roof. A consumer based economy cannot thrive if taxes increase on the middle class and the poor like under his plan.

#17 | Posted by Nixon at 2024-09-19 07:35 AM | Reply

While there might be an immediate sharp spike in some economic indicators, the final effects of a Federal Reserve rate cut will take months to fully take effect.

A prediction:
ON ELECTION DAY:
If the economy continues to improve, Mr. Trump will claim the Fed Reserve is unfairly influencing the election in favor of Harris/Walz.

If the economy is faltering, Mr. Trump will claim the rate cut was too little/too late.

If the economy is unchanged, Mr. Trump will claim only he can improve the economy.

#18 | Posted by TrueBlue at 2024-09-19 08:43 AM | Reply