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Interest rates were already increasing when Trump was elected. They jacked rates to cool the economy, as they should have done. Rates were already decreasing
by somewhat_drunk 3y ago
Interest 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?