September interest rate cut is 'on the table,' Federal Reserve Chair Jerome Powell says

#federalreserve #interestrates #news

[samtaheri]

US economy is in a rescission. Do you want to see stock market down by 3000 point till you believe we are in a recession.

[ColinPoole]

Real question - how does cutting interest rates help during inflation? The stock market is already at record high so we don't need more borrowing to inflate the market, the housing market is already a sellers market with more buyers than there are houses so we don't need more borrowing to promote sales in the housing market. Won't we end up with even MORE people looking to buy homes that don't exist and even further drive up the value of homes on the market as bidders compete? I feel like we need to put money into whatever will get more housing developments going or just standalone houses etc - so I assume lowering rates would help those contractors - but does it become a wash if we increase the number of buyers while increasing the number of homes? We need "just" more homes to reduce the competition and lower the asking prices before lower income earners can find their own options of homes. I'm happy that my own home value has gone from 240k to 350k over the last 6 years - but my mortgage is at a 3.875 so even with my home value going up I couldn't afford to sell it to get into something else because now my "next" home that was 400k when mine was 240k is up to 850k so regardless of a lower interest rate which would still be higher than my current one - the homes themselves have moved beyond my reach. The real mistake was not buying the 400k home at 3.875 but that was slightly out of my range as a single-earner household.

[tbkn]

It doesn't help at all, I think it's just for looks because without more AFFORDABLE housing, the only people that are helped is the real estate investors and builders.

[LorenzoQuesada-K]

Little longer 25% entrance cut then rate cut in SEP, 8 rate cut my mother death