Thursday, August 22, 2019

KANSAS CITY RATE CUT PUSH BACK!!!



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Kansas City Fed's Esther George says the July rate cut was not needed

Kansas City Federal Reserve President Esther George disagrees with the U.S. central bank's move to cut interest rates last month as the economy is still strong. "My sense was we've added accommodation and it wasn't required in my view," George told CNBC's Steve Liesman in an interview that aired Thursday.


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10 comments:

Anonymous said...

Dafuq do we still have our monetary policies, backed by the guv, determined by a private, secretive corp with no oversight.

Anonymous said...

Some experts say we should have a rate cut and she says we shouldn't. It's just one opinion.

Anonymous said...

The lower the Fed rate is, the less tool we have for correcting a recession or depression. In good times like these, rates should be high as there is a big loan demand for money from businesses making large profits. So we should raise rates. In a recession, you lower rates so credit card interest goes down and marginal firms can borrow money to stay afloat. We are backwards. Lower rates cause people to leave the bond market, get into stocks, driving their prices up too high, till the market crashes. We are screwed now, we are set for a huge crash.

Anonymous said...

@12:002-She's an expert dummy. Her opinion is pretty damn important.

Anonymous said...

Esther George doesn't have the best record on predictions. If it were up to hear the rate would be 6 or 7 percent. Even going back 8 years she's never been for lower rates

Anonymous said...

Just keep in mind that well-known economists have predicted at least six of the last to recessions.
Or as most of them say, "But on the other hand"!

Anonymous said...

Sorry @1:13Pm-Ester George & the FED don't do "predictions". You really don't understand how the FED works do you? It makes zero sense to have lower rights right now. Zero. She was not in favor of the last rate cut because as your dear, precious leader has said, "the economy is going great"! "Best economy ever"! "Most jobs gained ever"! "Lowest unemployment ever"! Why in God's name do we need to cut rates? Please don't respond. Your previous post indicates you have absolutely no idea what your posting about. Cheer up though, neither do the majority of Trump supporters either.

Anonymous said...

"the economy is still strong"


LOL ... as long as the workforce continues running on the consumer-spending-debt treadmill full speed we should be fine right?

Anonymous said...

The fact this is even a discussion (with Trump cheer-leading huge cuts) just shows how weak the economy really is. The Brownback inspired supply side tax cuts have had the same impact on the national budget. Annual deficits are back to $1 trillion annually.

Trump and the GOP are driving the economy into the ditch again.

NicK said...

yeah llike anybody on fox knows what the fuck there talking about. hard to be apart of a functioning system when you ignore the critiques of said system