CNBC: “The Federal Reserve held fast to its ultra-accommodative monetary policy Wednesday, solidified by what board members described as an economy weakened by fiscal policy.
The Committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labor market or inflation changes.”
Opinion: Translation: the Federal Reserve will continue to print money which will further dilute the value of existing money. So called asset purchases will hold interest rates down and possibly keep pumping up stock prices.
Re-read the post below this one. In the new world order, when things don’t work well economically the government simply re-writes the rules and magically scary statistics are tamed.
Someday, the game will end. Someday, the US will have to pay a higher interest rate on our debt. Remember what happened in 2008 when all those variable rate mortgages reset at higher interest rates and hundreds of thousands of people lost their homes?
The US currently pays 400 billion in interest alone on our $17 trillion dollar debt. Every 1 point rise in interest rates adds 100 billion more to the debt repayment per year.
Tick Tick …