Here Comes The Fed

Submitted by ub on

Experts say greed causes inflation. Like pride, lust, gluttony, sloth, anger, and envy, greed is a deadly sin because it causes others. 

Greed takes the form of overwork. Consumerism is a view of the human person that reduces us only to what we can afford to buy and consume.

Today, The Federal Reserve, or what I like to call the fez is expected to give interest rates their biggest upward bump in 22 years to tame an inflation rate that's raging at a 40-year high.

After raising its key short-term interest rate from near zero by a quarter-percentage-point in March, the Fed is set to push it up another half-point, its largest move since 1994. And that’s likely just the beginning: When the Fed began raising rates in March, it forecast six more hikes this year and more in 2023. 

This will drive rates higher on everything from credit cards to mortgages; on the plus side, consumers will finally see bank deposit rates rise from paltry levels, especially for online savings accounts and CDs.

Investor pessimism mounts as more Fed rate hikes loom…