Chairman Powell speaks after Fed hikes interest rates by 0.75% to fight inflation — 9/21/2022

The Federal Reserve on Wednesday raised benchmark interest rates by another three-quarters of a percentage point and indicated it will keep hiking well above the current level.

In its quest to bring down inflation running near its highest levels since the early 1980s, the central bank took its federal funds rate up to a range of 3%-3.25%, the highest it has been since early 2008 following the third consecutive 0.75 percentage point move.

The increases that started in March and from a point of near-zero mark the most aggressive Fed tightening since it started using the overnight funds rate as its principal policy tool in 1990. The only comparison was in 1994, when the Fed hiked a total of 2.25 percentage points; it would begin cutting rates by July of the following year.

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LIVE: Chairman Powell speaks after Fed hikes interest rates by 0.75% to fight inflation — 9/21/2022

[divyanayanawasthi]

Us a debt driven economy . That’s a shame .

[topstarnec]

2 ways to counter inflation: 1) less money for the market 2) supplying more products for the market.

[RInho-oxsw]

Increasing QT, Pivot only when inflation at 2%, higher possibility of NOT having a soft landing, employment incredibly strong, guaranteed 100-120bp hike remaining in 2022, housing needs to correct. This is really bad, and dont let anyone trick you into thinking its bullish.

[miawhitlock]

Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy. The fin-Market;s have underperformed the U.S. economy as fear of inflation hammers the prices of stock;s and bonds. My portfoliio of $250k is down to $192k any recommendation;s to scale up my return;s during this crash will be highly appreciated.

[Boxagami]

Raising rates doesn't fix the supply chain break down issues driving up costs... Raise them all you want!

[KennyG]

you heard it ... pain.. housing price correction.... using your house as an ATM days are over

[phoenixmoors]

Hope for the best, expect the worst! That's what's FED is saying. No straight clear horizon just pouring more unnecessary ambiguity into the market.

[lyndon]

You're just burgling the economiy on behalf of the wealthiest 0.1% of the population... you should all be held accountable....

[jeremyedwards]

4.5 percent inflation??? I think its 20 to 25 percent. Eggs here are 5$ a dozen. It cost me 50 percent more to fill my truck up. What are these guys smoking

[lauraellinger]

I don’t believe we have been presented with the true picture of the state of our economy. The ball has been dropped. Ugh. Here we go….. 🎢 🛝 😓 🤕. Next paradigm shift.

[lawrenceleverton]

Powell says we got the tools we need. The ONLY tool in "Builder Bobs" tool box is Interest Rates.

[RealSerie]

Reminder: it's not the Fed's job to prop up the stock market. Dude was asked the same question like 20 times. Read my lips: I CANNOT PREDICT THE FUTURE! Fed decisions are conditions based and they are asking him to predict the future.

[mike]

So what happened to increasing production/supply to lower prices? This results in more jobs and a robust economy rather than taking out a leg on investors by increasing interest rates.

[obob]

Powell forgets to mention the main cause of inflation, pumping 4 trillion into the economy over a two year period. But I don’t he would take responsibility for causing inflation by printing recklessly.

[mdimarco]

This is austerity for America. Because of government spending and they take it out from your pocket.

[ef]

Raising interest rate is not the only solution to tame the inflation. It might hurt the economic growth in a long haul.

[TechOutAdam]

I truly don't understand how there's so much unemployment. You'd think there'd be no openings with how expensive things are getting. As a real estate investor, supplies and materials are absolutely insane compared to anything I've experienced the past 10 years. I truly can't imagine how many Americans are living off debt just for groceries and how no one wants to admit how bad it really is.

[madhukiranvaddi]

How are you going to generate max employment with rapid rate hikes ..

[MrHavk]

Jay Powell looking like the Grinch these days 😂😂😂😂

[NYRKRZ]

Meaningless rant by a person who himself created the problem.