HELLO INFLATION: Corrupt FED Announces They Will Lower Rates in 2024 Yet US Interest Payments Alone Reaching Nearly $1 Billion? | Joe Hoft


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HELLO INFLATION: Corrupt FED Announces They Will Lower Rates in 2024 Yet US Interest Payments Alone Reaching Nearly $1 Billion?

The FED announced their intent to help the Biden gang in the 2024 Election. 

The FED reported last week that it will lower interest rates at least three times in 2024 which is clearly an effort to help the corrupt and failing Biden crime family.

The Federal Reserve on Wednesday held its key interest rate steady for the third straight time and set the table for multiple cuts to come in 2024 and beyond.

With the inflation rate easing and the economy holding in, policymakers on the Federal Open Market Committee voted unanimously to keep the benchmark overnight borrowing rate in a targeted range between 5.25%-5.5%.

Along with the decision to stay on hold, committee members penciled in at least three rate cuts in 2024, assuming quarter percentage point increments. That’s less than what the market had been pricing, but more aggressive than what officials had previously indicated.

Markets had widely anticipated the decision to stay put, which could end a cycle that has seen 11 hikes, pushing the fed funds rate to its highest level in more than 22 years. There was uncertainty, though, about how ambitious the FOMC might be regarding policy easing. Following the release of the decision, the Dow Jones Industrial Average jumped more than 400 points, surpassing 37,000 for the first time.

The interest rates under Biden were raised by greater than a quarter percent under Biden.  Only Bush and Trump received similar increases.  This had to happen in an attempt to hold off inflation.  Under Bush and Trump the FED increased rates in an apparent move to slow down their economies.  Under Obama, the FED kept rates at record lows of zero percent.

Lowering rates at this time makes no sense because recent sales of government bonds were a bust.

The far-left Washington Post reported earlier this year:

The U.S. government spent $659 billion this year paying off the interest on its debt, according to a Treasury report released Friday, as the nation’s widening fiscal imbalance and the Federal Reserve’s rate hikes dramatically raised the federal cost of borrowing.

Because the federal government spends more than it collects in tax revenue, the Treasury Department issues new debt to cover the rest of its payment obligations. That debt must be repaid with interest — costs that grow as the debt grows. And as the central bank has raised interest rates to cool inflation, the borrowing costs to the U.S. government are also way up.

How the hell can the FED lower rates with massive spending in the US government skyrocketing?  This makes no sense.

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