The Federal Reserve announced another interest rate hike today. As expected, the hike is a joke and does nothing to actually fight inflation.
JUST IN – U.S. Federal Reserve hikes benchmark interest rate by 75 basis points for third straight time this year.
— Disclose.tv (@disclosetv) September 21, 2022
This hike pushes the rate up to 3-3.25 percent.
The hike brings the U.S. central bank's benchmark interest rate to a new range of 3 per cent to 3.25 per cent — its highest level since 2008https://t.co/FRNo6OhcN8
— Yahoo Finance Canada (@YahooFinanceCA) September 21, 2022
Official inflation numbers are around 8 percent with real inflation at 20 percent if not higher. In order to actually do something about inflation they’d have to raise rates to 20 to 25 percent. Or at the very least, raise inflation rates to around 8 percent and in line with the fake official inflation number.
The Fed is basically destroying the economy while doing nothing tangible to stop inflation. It’s the worst of both worlds.
