Did Jay Powell’s Rate Hike Kill The President?

It’s been like a half-hour since the announcement and the Tweeter-in-Chief is silent.
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Michael Vadon [CC BY-SA 4.0], via Wikimedia Commons

Michael Vadon [CC BY-SA 4.0], via Wikimedia Commons

Donald Trump doesn’t look like he’s getting $5 billion for a wall, and he’s also not getting the break from Fed rate hikes he’s been openly threatening for over the last few months. For however much feeling, caressing, fondling, stroking, cupping, rubbing, massaging and pussy-grabbing of the market Jay Powell and his compatriots on the Fed Open Markets Committee have done or not done over the last few days, they still can’t quit those “meaningless numbers.”

Officials voted unanimously Wednesday on the increase, which will bring the benchmark federal-funds rate to a range between 2.25% and 2.5%, the ninth such increase since December 2015.

This was already not looking like a great week for the president, what with his elfin Capitol Hill crony indicating that the dick-swinging over a government shutdown is over, with nothing for the president to show for it, and word that he’d have to return that signed Tim Tebow helmet. Given that @realDonaldTrump has been silent on the matter, we cannot rule out a rage stroke felling the leader of the free world, and before he got a chance to read the good news.

The projections showed 11 of 17 officials expect the Fed will need to raise rates no more than two times next year, compared to seven out of 16 officials in September. Just six officials expect the Fed will need to raise rates three times or more, down from nine officials in September, and six officials believe the Fed may need to raise rates no more than once, up from three officials in September….

The central bank’s postmeeting statement signaled a more tentative approach that could yield a slower pace of rate increases. “The committee judges that some further gradual increases” in the benchmark rate would be consistent with meeting its goals of stable prices and healthy employment, the statement said.

Fed Raises Rates, But Signals Slightly Milder Path of Future Increases [WSJ]

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