Fed raises rates by half a percentage point — the biggest hike in two decades — to fight inflation \ stacker news ~bitcoin

Fed raises rates by half a percentage point — the biggest hike in two decades — to fight inflation www.cnbc.com/2022/05/04/fed-raises-rates-by-half-a-percentage-point-the-biggest-hike-in-two-decades-to-fight-inflation.html

241 sats \ 8 comments \ @mf 4 May 2022 bitcoin

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5 sats \ 2 replies \ @CornMooNaut 4 May 2022 freebie

oofff new home owners about be get rug pulled.

Who remembers underwater mortgages? I do, I used to have one. Never again. BTC only.

5 sats \ 1 reply \ @k00b 4 May 2022

Only if they have adjustable rates though right? Do we still even have those?

0 sats \ 0 replies \ @Undergotten 5 May 2022

I'm sure some people do. My parents got completely wiped out by that scam, even at the time I couldn't believe they agreed to it. Million dollar retirement got completely wiped out.

P.T. Barnum was right.

2 sats \ 4 replies \ @TheBTCManual 4 May 2022

I rate they've got another 25 basis points in them, keen to see how far they're willing to let the stonk market fall

4 sats \ 1 reply \ @k00b 4 May 2022

I'm curious as well. The political pressure has to be incredible.

You've already pissed off poor people with inflation. Now, you're going to piss off the middle class and above by taking away their gainz.

3 sats \ 0 replies \ @TheBTCManual 4 May 2022

If they're talking about student debt forgiveness, even if that's just one of those voter promises that never happen, they have to be pretty desperate, that's a big boot on the middle class too.

1 sat \ 1 reply \ @mf OP 4 May 2022

At least enough to transfer more wealth.

3 sats \ 0 replies \ @TheBTCManual 4 May 2022

S&P would have to drop by 20% to get back to pre-pandemic levels, which even that would be complete chaos, I think in 2020, 18% of public companies were zombies pretty sure that's even higher now