Lawmakers led by Democrats urge the Fed to halt rate hikes ahead of Wednesday’s announcement | Metals Mine

  • Lawmakers led by Democrats urge the Fed to halt rate hikes ahead of Wednesday’s announcement

    From cnbc.com

    A group led by several prominent Democratic lawmakers is calling on the Federal Reserve to halt rate hikes to avoid risking too much damage to the economy. The 10 senators and representatives, led by Sen. Elizabeth Warren of Massachusetts and Reps. Pramila Jayapal of Washington and Brendan Boyle of Pennsylvania, raised their concerns about the Fed’s monetary policy strategy and its “potential to throw millions of Americans out of work,” in a letter Monday to Fed Chair Jerome Powell. The letter was sent ahead of the Fed’s anticipated rate hike announcement Wednesday. It would be the 10th increase since last ... (full story)

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clemmo17
May 2, 2023 11:20am
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“Don’t crash the economy while we’re in office.”
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Slat$
May 2, 2023 12:52pm
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with the steep inversion on the yield curve, Stagflation is here. None of these lawmakers, either Democrat or Republican nor even the Fed has any clue (and neither do I) how to combat that. Market forces will rebalance the economy eventually if they stop interviening, but of course they wont. So we are going to have wild pendulum swings througout this. It's gonna be painful folks. fasten your seatbelts
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Fx3423454
May 3, 2023 10:49am
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Quoting clemmo17
“Don’t crash the economy while we’re in office.”
“Don’t crash the economy while we’re in office.”

Like when Trump fired Janet Yellen for raising rates and then bullied Jerome Powell when he started raising rates too.
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The Fool
May 2, 2023 2:13pm
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Quoting Slat$
So we are going to have wild pendulum swings througout this. It's gonna be painful folks. fasten your seatbelts
Wild swings sounds good. Anything but tight-range sideways.
OBsayMkMoney
May 2, 2023 3:05pm
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Quoting ww3361
Moral hazard will once again be the cause of the next depression.
So not the trillions in spending and dollars we printed to keep banks alive? No? MMk
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ww3361
May 2, 2023 11:25am
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Moral hazard will once again be the cause of the next depression.
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ww3361
May 2, 2023 6:17pm
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Quoting OBsayMkMoney
{quote} So not the trillions in spending and dollars we printed to keep banks alive? No? MMk
And what on earth do you think I was referring to, you silly banana.
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gat
May 3, 2023 7:14am
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How about Pocahontas take her war party to Big Guy Biden and demand some responsibility on the budget?
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jcduminda85
May 2, 2023 3:17pm
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There are multiple indications that a recession is coming to the United States, such as an inverted yield curve, soft manufacturing output extending in time, and depressed confidence among consumers. How hard the landing could be, partially depends on how the Federal Reserve will work from now on.
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Trader#5178
May 2, 2023 12:01pm
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Hopefully Jerome will stick to his word and not let politics effect his decision
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Ftmofx
May 2, 2023 12:19pm
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Halt is appropriate for the current situation of the US Economy.
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