3 ms·

>There’s no recession as far as the eye can see. Back your pardon? The Fed is expected to raise the interest rate by 0.75% in September, IIRC. If that's not a

>There’s no recession as far as the eye can see. Back your pardon? The Fed is expected to raise the interest rate by 0.75% in September, IIRC. If that's not a recession on the horizon, then what is?

freeone3000 4y ago
Two straight quarters of declining GDP. Merely raising interest rates to a sane figure (still below 3%!) isn't recession-causing in any sane economy.
atlasunshrugged 4y ago
They might actually do so this week if the news is to be believed https://www.cnbc.com/2022/06/13/markets-are-now-bracing-for-the-possibility-of-bigger-fed-interest-rate-hikes-ahead.html https://www.cnbc.com/2022/06/13/markets-are-now-bracing-for-... https://www.cnbc.com/2022/06/13/fed-reportedly-may-hike-rates-by-three-quarters-of-a-point-this-week.html https://www.cnbc.com/2022/06/13/fed-reportedly-may-hike-rate... edit to add second non-paywalled link
- paganel 4y ago
  I was about to say that waiting till September might be not ideal when it comes to battling inflation.
melling 4y ago
Raising rates has a lagging effect. That results in the economy won’t be felt until next year. One of the benefits of crypto was supposed to be that it was uncorrelated to the market, etc. “Money” shouldn’t change in value so quickly.
- matwood 4y ago
  > One of the benefits of crypto was supposed to be that it was uncorrelated to the market, etc. Crypto may or may not have its own issues, but all assets tend to suffer 'correlation breakdown' during market volatility.
deleted 4y ago
[deleted]
tobltobs 4y ago
We would still be below 2%. Interest Rate in the United States averaged 5.44 percent from 1971 until 2022.
- JKCalhoun 4y ago
  Still waiting for the banks to raise my saving's interest rate to 70's level. ½ percent doesn't cut it.
  - ceejayoz 4y ago
    Buy I Bonds. 9.62% https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds_ibuy.htm https://www.treasurydirect.gov/indiv/research/indepth/ibonds...
    - jaywalk 4y ago
      Unfortunately limited to $10k per year, but at that rate everyone should be buying up to the limit.
    - elijaht 4y ago
      Limited to 10k/year
      - ceejayoz 4y ago
        $15k; you can buy $5k with your tax return. $30k if you've a spouse.
        JKCalhoun 4y ago
        Ha ha, what tax return? Thanks, though. Setting up an account today.
        ceejayoz 4y ago
        If you want, you can overpay taxes by $5k to get a refund to put into I Bonds.
JKCalhoun 4y ago
Is there a "recession" in the rest of the tech industry? I took that to be the point of the person you are replying to.
- mepiethree 4y ago
  Yes? Many stocks are down >50% and companies are announcing hiring freezes
  - roflyear 4y ago
    How is that a recession?
  - rvz 4y ago
    Yeah, It is not exclusive to crypto is it? We've already seen that even Tesla and Netflix announced layoffs. So, there's that.
ethanbond 4y ago
They raised interest rates several times over the last year. Of course from any point in time a recession is “on the horizon,” but this is not the cut and dry predictor you’re making it out to be.

freeone3000 4y ago

Two straight quarters of declining GDP. Merely raising interest rates to a sane figure (still below 3%!) isn't recession-causing in any sane economy.

atlasunshrugged 4y ago

They might actually do so this week if the news is to be believed https://www.cnbc.com/2022/06/13/markets-are-now-bracing-for-the-possibility-of-bigger-fed-interest-rate-hikes-ahead.html https://www.cnbc.com/2022/06/13/markets-are-now-bracing-for-... https://www.cnbc.com/2022/06/13/fed-reportedly-may-hike-rates-by-three-quarters-of-a-point-this-week.html https://www.cnbc.com/2022/06/13/fed-reportedly-may-hike-rate... edit to add second non-paywalled link

paganel 4y ago
I was about to say that waiting till September might be not ideal when it comes to battling inflation.

melling 4y ago

Raising rates has a lagging effect. That results in the economy won’t be felt until next year. One of the benefits of crypto was supposed to be that it was uncorrelated to the market, etc. “Money” shouldn’t change in value so quickly.

matwood 4y ago
> One of the benefits of crypto was supposed to be that it was uncorrelated to the market, etc. Crypto may or may not have its own issues, but all assets tend to suffer 'correlation breakdown' during market volatility.

deleted 4y ago

[deleted]

tobltobs 4y ago

We would still be below 2%. Interest Rate in the United States averaged 5.44 percent from 1971 until 2022.

JKCalhoun 4y ago
Still waiting for the banks to raise my saving's interest rate to 70's level. ½ percent doesn't cut it.
- ceejayoz 4y ago
  Buy I Bonds. 9.62% https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds_ibuy.htm https://www.treasurydirect.gov/indiv/research/indepth/ibonds...
  - jaywalk 4y ago
    Unfortunately limited to $10k per year, but at that rate everyone should be buying up to the limit.
  - elijaht 4y ago
    Limited to 10k/year
    - ceejayoz 4y ago
      $15k; you can buy $5k with your tax return. $30k if you've a spouse.
      - JKCalhoun 4y ago
        Ha ha, what tax return? Thanks, though. Setting up an account today.
        ceejayoz 4y ago
        If you want, you can overpay taxes by $5k to get a refund to put into I Bonds.

JKCalhoun 4y ago

Is there a "recession" in the rest of the tech industry? I took that to be the point of the person you are replying to.

mepiethree 4y ago
Yes? Many stocks are down >50% and companies are announcing hiring freezes
- roflyear 4y ago
  How is that a recession?
- rvz 4y ago
  Yeah, It is not exclusive to crypto is it? We've already seen that even Tesla and Netflix announced layoffs. So, there's that.

ethanbond 4y ago

They raised interest rates several times over the last year. Of course from any point in time a recession is “on the horizon,” but this is not the cut and dry predictor you’re making it out to be.