The Federal Reserve raised its short-term lending rate another quarter point yesterday, intensifying the central bank’s fight against inflation. WATCH the live stream of ABC News here: https://www.youtube.com/watch?v=w_Ma8oQLmSM SUBSCRIBE to ABC NEWS: https://bit.ly/2vZb6yP Watch more at http://abcnews.go. com/ LIKE ABC News on FACEBOOK https://www.facebook.com/abcnews FOLLOW ABC News on TWITTER: https://twitter.com/abc #FederalReserve #Hikes #InterestRates #ABCNLUpdate
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Will the whole system crash and the dollar has no value ?
Notice she did not address the question of how interest on savings is affected… Rates going up but interest on savings has remained flat. We’re all getting reamed!
To the smart people who lived by “ saving money for a rainy day”. Here here , good job.
THE FED SHOULD HAVE SIMPLY WENT ABOVE THE INFLATION RATE AND GOT IT OVER WITH!! INSTEAD THEY NICKELED AND DIMED IT AND THE MARKET IS NOT EVEN AFFECTED OR TAKING IT SERIOUS AND THE ONLY ONES WHO SUFFER ARE THE AVERAGE AMERICAN!! SMH!!! FED POWELL DID A TERRIBLE JOB IN REDUCING INFLATION!!!
Interest rates are still too low to ease inflation. 4.75% is no where near the 12-15% that Reagan used to kill inflation in the early 1980s.
it makes perfect sense ; to curb inflation increase interest on debt we borrow but also don't borrow any more debt ; while paying your already current debt off, and occurring more debt buy simply the rising cost of goods in general….lol
Inflation is just a temporary thing
Joe biden
Show respect to nature first, everyday. Before showing respect for God everyday. Put nature before God, or anything else.
Then, the growing crisis will cease to exist.
Then, money will stop losing its value.
Fight inflation! Don’t pay your bills 🤣
“the free market” 😂🤡
raising interest rates only lead to everything being more expensive, hasn't lowered prices as business and individuals costs go up and are passed on to consumers and then employers have to raise salaries to attract talent.
This FED man is dangerous for everyone. He just wanna kill jobs for American working ppl.
Keep it up and will be in a depression before too long
Trying to destroy the housing market! Let the crooked bankers go? Screw all the hard working Americans!
There is no evidence the Fed has done anything to reduce inflation. Biden doesn't know much about business, he never liked it, and he isn't getting good advice from the Fed. Powell needs to hit the road Jack and don't come back no more. The Fed doesn't do a damned thing to help the American people and is always conning them about inflation.
The only time the American economy has worked for the people was during WWII. Take a look around at all the homeless people, did a good economy create that? The people struggle while the government works for the corporate elites and our government doesn't do a damned thing to help the common man.