What is Federal Reserve Chairman Jerome Powell going to do today? Meeting at 2:30 EST

[edjr 6,161]

 

50 basis points?  

Liz Fauxcahontas Warren said he should drop it by 1 point   so you know that is definitely wrong,. 

 

[edjr 6,161]

WE LIVE!

[edjr 6,161]

50 basis points. 

[jerryskids 5,900]

Color me shocked that the Fed lowered interest rates with the election looming, despite inflation being about 50% higher than they target for such reductions.   

[edjr 6,161]

1 minute ago, jerryskids said:

Color me shocked that the Fed lowered interest rates with the election looming, despite inflation being about 50% higher than they target for such reductions.   

He said inflation was 2.7%     Let me know when it is negative 5% and prices start to go back where they were. Why does no one ever mention that?

[edjr 6,161]

Quote

Outside of the emergency rate cuts during Covid, the last time the FOMC cut by half a point was in 2008 during the global financial crisis.

 

[MDC 6,480]

Lowered rates - nice! 

[edjr 6,161]

it’s going down another 1/2 by the end of year and they are projecting it will be 3.5 by end of 2025

[Horseman 1,699]

Meanwhile hamburger is $9.00/lb., has an anti-theft devise under the sticker and a security guard at the door making sure no one walks out without paying for it.  

[The Real timschochet 4,782]

1 hour ago, edjr said:

He said inflation was 2.7%     Let me know when it is negative 5% and prices start to go back where they were. Why does no one ever mention that?

Maybe this cut will help prices go down? 

[edjr 6,161]

2 minutes ago, The Real timschochet said:

Maybe this cut will help prices go down? 

Sure hope so!  I have my doubts. Might still be too early.

[edjr 6,161]

5 minutes ago, Horseman said:

Meanwhile hamburger is $9.00/lb., has an anti-theft devise under the sticker and a security guard at the door making sure no one walks out without paying for it.  

https://www.shaws.com/shop/product-details.188100054.html?productId=188100054&psrc=g&CMPID=ps_shw_shwd_ecom_goo_20210527_71700000083986165_58700008601468276_92700078534952705&gad_source=1&gbraid=0AAAAADeuA_iCE_grs0seRMnOPrIPuj4lk&gclid=Cj0KCQjw9Km3BhDjARIsAGUb4nxx2mmEmAmTtSYLHsr4zFkkXIVwX51Spvt9hh8sjRoOwp03LwVoVTkaArp6EALw_wcB&gclsrc=aw.ds

4.99

[lickin_starfish 1,677]

4 minutes ago, edjr said:

Sure hope so!  I have my doubts. Might still be too early.

They've been raising rates to battle inflation. Lowering rates will increase prices.

[thegeneral 2,229]

All the financial gurus of the Geek Club telling the Fed what’s up is comedy gold.

[Horseman 1,699]

4 minutes ago, The Real timschochet said:

Maybe this cut will help prices go down? 

You have it backwards.  Shocker.

1 minute ago, edjr said:

Sure hope so!  I have my doubts. Might still be too early.

There is no doubt it's too early.  This is purely political theater and after the election they will change and won't be cutting again at the end of the year.

Raising rates is supposed to slow spending. Less spending results in lower prices. Neither of those have fully crested yet.

[HellToupee 1,099]

We let a bunch of bad hombres come in and raise the unemployment rate

[Fnord 1,450]

12 minutes ago, Horseman said:

Meanwhile hamburger is $9.00/lb., has an anti-theft devise under the sticker and a security guard at the door making sure no one walks out without paying for it.  

JFC. I buy organic ground beef and that's only like $7.99/lb. If you're paying that much, inflation ain't the problem Tony. Your own stupidity and elitism is. HTH.

[HellToupee 1,099]

Just now, Fnord said:

JFC. I buy organic ground beef and that's only like $7.99/lb. If you're paying that much, inflation ain't the problem Tony. Your own stupidity and elitism is. HTH.

I paid $7.49 for 85% at Publix yesterday. Prices are totally insane 

[Horseman 1,699]

4 minutes ago, edjr said:

https://www.shaws.com/shop/product-details.188100054.html?productId=188100054&psrc=g&CMPID=ps_shw_shwd_ecom_goo_20210527_71700000083986165_58700008601468276_92700078534952705&gad_source=1&gbraid=0AAAAADeuA_iCE_grs0seRMnOPrIPuj4lk&gclid=Cj0KCQjw9Km3BhDjARIsAGUb4nxx2mmEmAmTtSYLHsr4zFkkXIVwX51Spvt9hh8sjRoOwp03LwVoVTkaArp6EALw_wcB&gclsrc=aw.ds

4.99

"delivery unavailable to your area"

[MDC 6,480]

2 minutes ago, HellToupee said:

I paid $7.49 for 85% at Publix yesterday. Prices are totally insane 

$5.99 at IGA. 

[HellToupee 1,099]

9 minutes ago, edjr said:

https://www.shaws.com/shop/product-details.188100054.html?productId=188100054&psrc=g&CMPID=ps_shw_shwd_ecom_goo_20210527_71700000083986165_58700008601468276_92700078534952705&gad_source=1&gbraid=0AAAAADeuA_iCE_grs0seRMnOPrIPuj4lk&gclid=Cj0KCQjw9Km3BhDjARIsAGUb4nxx2mmEmAmTtSYLHsr4zFkkXIVwX51Spvt9hh8sjRoOwp03LwVoVTkaArp6EALw_wcB&gclsrc=aw.ds

4.99

I used to go to the Shaws or Wegmans in Burlington. I miss the meats up north . 

[Horseman 1,699]

2 minutes ago, Fnord said:

JFC. I buy organic ground beef and that's only like $7.99/lb. If you're paying that much, inflation ain't the problem Tony. Your own stupidity and elitism is. HTH.

Organic. 

Einstein here thinks prices are the same everywhere.  I'm guessing you don't have security tags on the meat, or security guards at the door, or gates that open and close to keep people from running out with full carts without paying.  It's why you still dumbly vote blue.  

[HellToupee 1,099]

Just now, MDC said:

$5.99 at IGA. 

I just checked the Kroger app , $6.79 for 80/20 and that’s delivered. Publix bends me over without even lubing me up

[HellToupee 1,099]

Just now, Horseman said:

Organic. 

Einstein here thinks prices are the same everywhere.  I'm guessing you don't have security tags on the meat, or security guards at the door, or gates that open and close to keep people from running out with full carts without paying.  It's why you still dumbly vote blue.  

Anyone with dignity buys grass fed. Organic is for ham& eggers

[lickin_starfish 1,677]

Buy your meat directly from local farmers. That's the way.

[IGotWorms 3,831]

1 hour ago, edjr said:

He said inflation was 2.7%     Let me know when it is negative 5% and prices start to go back where they were. Why does no one ever mention that?

Because that’s a very bad recession, dummy

[HellToupee 1,099]

Well this doesn’t look good

 

[easilyscan 639]

23 minutes ago, HellToupee said:

I just checked the Kroger app , $6.79 for 80/20 and that’s delivered. Publix bends me over without even lubing me up

Not even a reach around ?

[Fnord 1,450]

20 minutes ago, Horseman said:

Organic. 

Einstein here thinks prices are the same everywhere.  I'm guessing you don't have security tags on the meat, or security guards at the door, or gates that open and close to keep people from running out with full carts without paying.  It's why you still dumbly vote blue.  

My wife insists on organic. There is a bit of a better flavor, although nothing close to organic chicken, which is significantly better tasting than even free range.

There are security tags on the beef though. Still $7.99 for organic.

Why wouldn't I vote blue if I'm paying such low prices? That's on you for living in one of those giant "shithole Democrat run cities." You should move somewhere red; I heard those hot, stanky-ass little towns in the deep south are awesome and beef is cheap!

[edjr 6,161]

21 minutes ago, HellToupee said:

Well this doesn’t look good

 

ANyone with a brain knows we are in or headed for a recession

[RaiderHaters Revenge 3,922]

1 hour ago, The Real timschochet said:

Maybe this cut will help prices go down? 

Tim thinks housing loan rates affect ground beef  

[HotRod 21]

Where do you guys live that they put security tags on meat?  Must be some real ghetto stuff.

[Horseman 1,699]

18 minutes ago, Fnord said:

My wife insists on organic. There is a bit of a better flavor, although nothing close to organic chicken, which is significantly better tasting than even free range.

There are security tags on the beef though. Still $7.99 for organic.

Why wouldn't I vote blue if I'm paying such low prices? That's on you for living in one of those giant "shithole Democrat run cities." You should move somewhere red; I heard those hot, stanky-ass little towns in the deep south are awesome and beef is cheap!

The reason is because I get paid, a lot, to live here.  But I don't need any more money so I'm about done.  Getting out before the idiots fok up my neighborhood and home value. 

As usual I'm way ahead of you.  It's not deep south, but, it's pretty glorious.  Gas is $3 or less, no homeless people, no graffiti and garbage everywhere. No pink hairs running around with masks on. Speaking of beef I got a guy that runs cows on the back half of my property, true story.

[Horseman 1,699]

2 minutes ago, HotRod said:

Where do you guys live that they put security tags on meat?  Must be some real ghetto stuff.

You'd think.  But when inflation soared the undesirables came into the good neighborhoods and started filling up grocery carts and just walking out with them. They even bring their kids with them.  Because under lib policy they don't ever get arrested or charged, especially for shoplifting. The laundry detergent is behind plexiglass now.  

[TheNewGirl 1,166]

6 minutes ago, Horseman said:

You'd think.  But when inflation soared the undesirables came into the good neighborhoods and started filling up grocery carts and just walking out with them. They even bring their kids with them.  Because under lib policy they don't ever get arrested or charged, especially for shoplifting. The laundry detergent is behind plexiglass now.  

Walmart is even locking their shiite up. 

[Fnord 1,450]

17 minutes ago, Horseman said:

The reason is because I get paid, a lot, to live here.  But I don't need any more money so I'm about done. 

Yeah, so you've told us. Repeatedly. So why are you bltching about prices, Daddy "Hotwife" Warbucks? What do you care? We all know it's not feelings of compassion for those less fortunate. 

[thegeneral 2,229]

28 minutes ago, edjr said:

ANyone with a brain knows we are in or headed for a recession

We are due.

[Horseman 1,699]

7 minutes ago, Fnord said:

Yeah, so you've told us. Repeatedly. So why are you bltching about prices, Daddy "Hotwife" Warbucks? What do you care? We all know it's not feelings of compassion for those less fortunate. 

Never heard of sticker shock?  Google it.

I don't do the grocery shopping and although I knew prices had shot up I never thought that hamburger, you know that made hamburger helper famous for being able to feed an entire poor family for a couple bucks, had shot up to $9/lb.  No wonder they just started stealing it.  

[edjr 6,161]

12 minutes ago, Horseman said:

Never heard of sticker shock?  Google it.

Is that when you rub a sticker real fast on the carpet and touch it to your skin?

[Maximum Overkill 1,192]

1 hour ago, Fnord said:

only like $7.99/lb