Interest Rate Hike

Fed holds off on interest rate hike, downgrades economic forecast, Says the LA Times

“The economy still isn’t strong enough to handle it.

“Fed officials sharply downgraded their economic forecast for this year. They projected the economy would grow between 1.8% and 2% this year, well below the range of 2.3% to 2.7% in its last forecast in March.

“If they’re correct, annual growth would be the worst since 2011 and would be far from the breakout performance some economists had hoped for this year.”

The economy is stagnating, the middle class hasn’t seen any wage increases adjusted for inflation for at least 10 years. He is priced out of the housing market, over loaded with debt, lives paycheck to paycheck, and doesn’t have the extra money to get the economy moving. I think the people in charge ought to be fired for incompetence; 92 million people out of work or looking for work; almost 50 million people on EBT.

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