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> Federal Reserve deserves credit for handling inflation well. That is a stretch. They jacked rates on Trump, lowered rates for Biden, and in my opinion were f
by landemva 3y ago
> Federal Reserve deserves credit for handling inflation well.
That is a stretch. They jacked rates on Trump, lowered rates for Biden, and in my opinion were forced to raise rates when the Ukraine money/power grab ramped up.
- sanxiyn 3y ago"Forced" or not, they still raised rates. They could have done otherwise, which would have been disastrous.
- landemva 3y agoThey followed war events in a reactionary manner. It would be cheaper and transparent to set rates algorithmically. The Fed can stay in business by continuing to inadequately regulate banks like SVB.
- somewhat_drunk 3y agoInterest rates were already increasing when Trump was elected. They jacked rates to cool the economy, as they should have done. Rates were already decreasing when COVID hit, and they dropped rates to zero when the economy shut down, as they should have done. Correlation does not necessarily imply causation, as I'm sure you know. You could have simply looked up a long-term chart of the FED funds rate to verify your political belief, but you chose not to. Why? https://www.newyorkfed.org/markets/reference-rates/effr https://www.newyorkfed.org/markets/reference-rates/effr
- landemva 3y agoFebruary 2020 discount rate was 2.25. March 2020 it was 0.25. Was that the biggest drop ever? Just two weeks to slow the spread, ha! https://fred.stlouisfed.org/series/INTDSRUSM193N https://fred.stlouisfed.org/series/INTDSRUSM193N
- somewhat_drunk 3y agoI can't tell if you're being disingenuous or if you're just not very bright.
- ajross 3y agoThat was a full year before Trump left office though. Are you confused about dates?
- deleted 3y ago[deleted]