The Federal Reserve raised interest rates for the fourth time this year, despite concerns that it could trigger a recession amid the highest inflation in 40 years. Markets and economy reporter for Insider, Ben Winck, joins News NOW to explain how the Fed’s rate hike could impact the economy and your wallet.
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How can this kid, that grew up in an environment that was all growth, know. Geeze interview someone with experience.
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The federal reserve can tax Biden for all the oil he sent to China .
It's like asking a gang leader to tell us how we can reduce crime…
Its all Trump and Putin's fault.
This is financial advice and I never give financial advice: DONT LEAVE DURING THE BEAR. If you don’t want to invest…learn. If you don’t want to learn…build. If you don’t want to build observe. DO SOMETHING…other than leave. There is so much opportunity here. Take advantage!
Correct me if I'm wrong….The banks will make more money off every loan? The rich get richer….
Nope. They are going to take more Money In September. They will hire the rates in September. Be ready
AMERICAN SPENDING IS FROM THE SELLING OF HOMES FOR RIDICULOUS PRICES AND NOT NEEDED TO WORK AGAIN FOR POSSIBLY THE REST OF THEIR LIVES. THEY CAN BUY WHAT THEY WANT NOW AND NOT BE BROKE.
Obviously, the people that bought a house this year and last year will be taking a jump out a window 5-floor high window when they see the value of their home take a dump… meanwhile their house payment is off the chart… which will cause short sales to hit the market, upside down variable rate loans skyrocketing and causing these dirtbag variable interest rate loans that are given to subprime home buyers… to go from amazing teaser rates of 1.75% to 8+% then making that house payment go from 1500-2500 all the way up to unimaginable payments. The 2008 Cash for Trash is about to be reinstituted. This time the banks are flush with republican tax break money so no more Leman Brothers or Bear Sterns happening this time.
$7 gas, $10 big macs, chicken, used cars & more all 30-40% above normal costs. Sure, Americans can afford it….no recession in sight SMH. Yet buffoon in office wants to spend trillions more. You can't make this stuff up.
I think the interest hikes only impact the working people. The one's causing inflation by paying significantly over list price on homes, over charging on everything are not impacted. They don't have to worry about high interest on credit cards or higher rates on mortgages because they pay for it with the profits they've been making off the working class.
🤣🤣🤣🤣🤡🤡🤡🤡, because your wallet hasn't been affected until the rate hike right 🤣🤣🤣🤣
W
walking dead lifestyle baby!, it's going to be EPIC!!
It IS impacting everything in our lives. The billionaires are doing just fine while the rest of us continue to suffer
There is NO glass half full 😩
Oof looks like I’ll be working not as hard even further. Don’t want to burn out like my wallet
Wealth redistribution to the top.
I lost $200 on stocks in just one day !
If I can work but can’t afford food or gas, the economy isn’t doing better buddy. Sitting in from of screen and talk to a tv isn’t the same as a regular people.
so they overrided the will of the American public and put in a puppet. – in an insultingly obvious fraud – and proceeded to crash the entire WEST into the ground, bankrupting North America and Europe (even worse than was already the case), got in a proxy war with RUSSIA, lost 100billion in arms to the world and Taliban….made mortal enemies of 70million of their countrymen in the process, poisoning another few million with a pharmaceutical cluster fk. This is easily EASILY banana republic – tier stewardship. I didn't think it'd be this hilariously pathetic.
They told us inflation was transitory and that we had no more recessions. I don’t trust any of these fools.
Say: "No one looks at my religion and researches it, and I do not look at anyone's religion and opinion". Everyone thinks that way about each other. If you want someone else to research your religious opinion, you must also research someone else's religious opinion. You should tell this to everyone. A very effective idea. This is how everyone will find the truth.
They want the average person, to feel like it is hopeless.
Lol, Biden admin. No recession here, just move along. What a failure of a president
Greed
You are lying!!!
All by design
Could? It will
Rising interest rates will do nothing but make people more poor
We’ve had 2 Quarters of negative growth do not listen to their BS we are in a recession they’re just doing this to protect Joe Biden
'Im from the Government and I'm here to help. Trust me. We haven't let you guys down YET have we?😳
You wanted Joe Biden NBC news now we are paying the price
You know who doesn't have to worry about buying food or paying rent….the rich elite. We have been dealing with slow increases in everything for years. Now is just the perfect time to blame a virus, war and everything else except themselves.
It went communist real quick with Joe in office and it should have never came to that point
The whole system is failing. And we're over fighting about Biden and Trump. So stupid. People can't see the bigger picture.
30 trillion in debt and 100s of Trillion off the books
Oh ok I see now. Everything is wonderful. Ffs
Trump 2024 🇺🇸
Thanks Mr President and all the dum dums who voted for outrageous prices on everything….
Are guys blind?
BIDEN’s Agenda is to turn the US into Cuba
End the Fed
Every economist outside of politics warned us this was going to happen.
if you think the economy is still strong I say you won't live through what they have planned this winter!
Well done, Joe "Carter" Biden. GDP has fallen into the negative for the second straight quarter. We are now in a recession.
Despite the economic downturn, I'm so happy 😊. I have been earning $6,000 returns from my $13,500 investment every 13days
Covid 19 was created to steer us in the direction we are going and the evil media knows it.