Federal Reserve raises interest rates by 0.25%

The Federal Reserve raised interest rates by 0.25%, the third time in 2023 and tenth straight increase. NBC News’ Brian Cheung reports on how the Fed continues to use interest rates to battle inflation and whether this could be the end of rate hikes.

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[mikefobear]

During the Trump presidency, Trump increased the national debt by over 30%. This is the biggest debt increase in America's history. This included the huge tax break for the richest Americans as well.

[RikersforTrump]

I don't see this helping the average citizen. This is horrible!

[brianjohnson]

When it hits late 70s early 80s rates of 15 or 20% then things will get real.

[venailetisabidjae]

How to view the fed interest rate data report?

[bingbong]

The average person gets poorer and poorer while the rich keep getting richer, how long can this divide keep growing.
Fun fact that the disparity of wealth in the US is greater than that between peasants and aristocrats during the French Revolution.

[jeremyfield]

No reporting on every time they raise the rates high yield savings accounts also increase causing banks to payout more interest. Now they are considerably less percentages than credit but can smaller banks payout

[commonsense]

Just in time for the biggest annual holiday happy #SinkoDeMayo !

[douginorlando]

Breaking Economic News… literally breaking banks by jerking interest rates up

[anonnimus]

Average Americans need to stop using credit to buy things. Especially everyday goods. Credit is a two edged sword that one holds by the blade.

Yes, credit let's you buy things that you could not buy otherwise, but that is exactly the problem. If you can't afford to pay cash or mostly cash, then maybe you shouldn't buy it. Or at least not buy it now.

The evil side of credit is when we use it to enable businesses or other enterprises to raise prices beyond the absolutely necessary. We've done since the 80's at least.

Probably the biggest culprit was Student Loan Debt. Student Loans allowed colleges to raise theirs tuition and fees to pay for new buildings, stadiums, gyms and other perks that have no direct relevance to delivering educational value. And it allowed states to shirk responsibility for funding land grant universities.

In Real estate it's allowed for speculative buying of houses, (flipping) that leads to real estate inflation and bubbles that make housing unaffordable.

Credit is an evil that should be avoided whenever possible. If most Americans stopped using credit salaries might finally catch up to inflation. Credit is an inflation force multiplier.

[jeremyfield]

Let me help the Fed out here. There are 2 ways people spend either from cash or credit, there are 2 ways in which spending is rated either by credit (FICO) or by Debt to income (DTI). You are raising interest rates in hopes that people only with credit stop spending. Other people spend due to their DTI. With social media and other forms of online income people are spending with DTI. Now credit cards are unsecured loans which means if I don’t pay the creditor can be nasty and call and call but I do not need to pay an unsecured loan. My credit will be effected but most people with credit if forced to pay back credit or have bad credit will choose not to pay. In that scenario the banks lose money. So in short people are not going to quit spending because they have to spend to live or their DTI earned from self-employed side jobs are allowing them to spend.

[humanbeing]

Want to know the INSANE thing? Raise those rates and you get homlessness on the other end of the wealth spctrum. I'm sure you've heard homlessness is at an all time low. Let me ask are there tons of help wanted signs and also a larger number of homeless citizens than ever. Ever wonder if those jobs CAN even help someone who has fallen that far with such low pay rates versus the cost of living. I dunno about you but I'm not ok with being comfortable and worry free while so many people lose everything and are eventually UNCOUNTED once their benefits run out. No body dreams of that. no body dreams of struggling. no body wants to be in pain. This many people don't CHOOSE to be homeless like they told you when you were a kid.