Wednesday, June 15, 2022

And Here We Go: Fed Raises Interest Rates higher Than Expected

The Detroit News: Fed attacks inflation with its largest rate hike since 1994

The same Top Men (note that term is now being used in a gender-inclusive manner that includes all the economically illiterate bints in the Biden administration as well)  that brought you Bidenflation are about to drop us into stagflation and a recession - if we're lucky.

Top. Men.


Old NFO said...

8 or 9% Mortgages by Christmas anyone???

Aaron said...

Old NFO: Yep, that's likely. Anyone with an adjustable rate mortgage has hopefully already done a refi to a fixed rate. If not, we may be seeing a repeat of rising rates causing a wave of foreclosures.