TUFKAK Posted August 25, 2023 Share Posted August 25, 2023 Can you poors just start taking third jobs again so daddy can get more stock buy backs you selfish bastards. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 25, 2023 Share Posted August 25, 2023 The DJIA was up well over 100 points. As soon as he started talking, it sold off. Quote Link to comment Share on other sites More sharing options...
Spork3245 Posted August 25, 2023 Share Posted August 25, 2023 24 minutes ago, osxmatt said: Fed Chair Powell calls inflation 'too high' and warns that 'we are prepared to raise rates further' WWW.CNBC.COM Federal Chair Jerome Powell called for more vigilance in the fight against inflation, warning that additional interest rate increases could be yet to come. Let’s play a game - see if you can spot when JPow said this: Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted August 25, 2023 Share Posted August 25, 2023 Absolutely bananas. Quote Link to comment Share on other sites More sharing options...
Jason Posted August 25, 2023 Share Posted August 25, 2023 Fed chair warns US inflation battle not over and hints at further rate rises | Federal Reserve | The Guardian WWW.THEGUARDIAN.COM Jay Powell tells symposium in Wyoming that inflation is still too high but that US central bank will ‘keep at it until the job is done’ 1 Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 25, 2023 Share Posted August 25, 2023 It would be perfectly reasonable for the Fed to hold rates as their current levels as it evaluates inflation data going forward, but outright suggesting a bias towards rate increases is something that I'm pretty sure very few analysts were expecting. 1 1 Quote Link to comment Share on other sites More sharing options...
Jason Posted August 25, 2023 Share Posted August 25, 2023 22 minutes ago, Commissar SFLUFAN said: It would be perfectly reasonable for the Fed to hold rates as their current levels as it evaluates inflation data going forward, but outright suggesting a bias towards rate increases is something that I'm pretty sure very few analysts were expecting. What's really annoying is the stuff that's driving inflation won't be fixed by jacking up interest rates. For housing at least it'll absolutely just keep making housing's contribution to inflation worse. Quote Link to comment Share on other sites More sharing options...
Jason Posted August 25, 2023 Share Posted August 25, 2023 Really only makes sense if he's intentionally going for stagflation. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 25, 2023 Share Posted August 25, 2023 Well, the market appears to have shrugged it off in any event. Quote Link to comment Share on other sites More sharing options...
Chris- Posted August 25, 2023 Share Posted August 25, 2023 7 minutes ago, Jason said: What's really annoying is the stuff that's driving inflation won't be fixed by jacking up interest rates. For housing at least it'll absolutely just keep making housing's contribution to inflation worse. That would only be the case if lending increases or continues at its current rate, which isn’t a certainty. Quote Link to comment Share on other sites More sharing options...
Jason Posted August 25, 2023 Share Posted August 25, 2023 22 minutes ago, Chris- said: That would only be the case if lending increases or continues at its current rate, which isn’t a certainty. For housing, higher rates cools off bidding wars but kill new housing starts, massively displace would-be buyers into an already super tight rental market, and prevents the market for existing for-sale housing from functioning because people who want to move decide to just stay put to keep their rate. Quote Link to comment Share on other sites More sharing options...
Chris- Posted August 25, 2023 Share Posted August 25, 2023 2 minutes ago, Jason said: For housing, higher rates cools off bidding wars but kill new housing starts, massively displace would-be buyers into an already super tight rental market, and prevents the market for existing for-sale housing from functioning because people who want to move decide to just stay put to keep their rate. Who is being massively displaced? Would-be buyers are either already in the rental market or already own, there is no displacement there. The impact to housing starts or people sitting on their rates could exacerbate the issue, but both of those are still dependent on lending. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted August 25, 2023 Share Posted August 25, 2023 23 minutes ago, Chris- said: Who is being massively displaced? Would-be buyers are either already in the rental market or already own, there is no displacement there. The impact to housing starts or people sitting on their rates could exacerbate the issue, but both of those are still dependent on lending. Existing renters on the lower end of the SES being displaced by New entrants into the rental housing market(which historically is linked to the home buying market) when there is no capacity to absorb the new entries—lower and working classes, young people who want to strike out on their own, immigrants, people of color generally. Higher rates could be managed better wrt housing if we had more slack in the housing market but we simply don’t have that slack. The new rental market is also affected by rates increasing as the construction is loan financed until completion Quote Link to comment Share on other sites More sharing options...
osxmatt Posted August 25, 2023 Share Posted August 25, 2023 2 hours ago, Commissar SFLUFAN said: It would be perfectly reasonable for the Fed to hold rates as their current levels as it evaluates inflation data going forward, but outright suggesting a bias towards rate increases is something that I'm pretty sure very few analysts were expecting. Optimal inflation is typically seen as between 2-3%. It’s currently at 3.18% and has declined every month since June 2022. Jerome Powell has no idea what he’s doing. Quote Link to comment Share on other sites More sharing options...
Guest Posted August 25, 2023 Share Posted August 25, 2023 24 minutes ago, osxmatt said: Optimal inflation is typically seen as between 2-3%. It’s currently at 3.18% and has declined every month since June 2022. Jerome Powell has no idea what he’s doing. The US has decreased the inflation rate faster than basically every G20 country. Pretty sure he does. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted September 20, 2023 Share Posted September 20, 2023 One more for the jihad expected for this year: Fed signals it will raise rates one more time this year before it ends hiking campaign WWW.CNBC.COM The Federal Reserve stayed put on Wednesday, but forecast it will raise interest rates one more time this year. Quote The Federal Reserve stayed put on Wednesday, but forecast it will raise interest rates one more time this year, according to the central bank’s projections released on Wednesday. Projections released in the Fed’s dot-plot showed the central bank would hike rate to 5.6% by the end of 2023. Then it projected two rate cuts in 2024, which is two fewer than its forecast in June. That would put the funds rate around 5.1%. 1 Quote Link to comment Share on other sites More sharing options...
rc0101 Posted September 20, 2023 Share Posted September 20, 2023 3 hours ago, Commissar SFLUFAN said: One more for the jihad expected for this year: Fed signals it will raise rates one more time this year before it ends hiking campaign WWW.CNBC.COM The Federal Reserve stayed put on Wednesday, but forecast it will raise interest rates one more time this year. Waiting to see if higher oil and a government shutdown do the job for them. Quote Link to comment Share on other sites More sharing options...
Massdriver Posted September 21, 2023 Share Posted September 21, 2023 2 hours ago, rc0101 said: Waiting to see if higher oil and a government shutdown do the job for them. Student loan payments are also resuming which should dampen demand somewhat. 1 Quote Link to comment Share on other sites More sharing options...
Signifyin(g)Monkey Posted September 21, 2023 Share Posted September 21, 2023 10 hours ago, Massdriver said: Student loan payments are also resuming which should dampen demand somewhat. A sharply rising dollar will do a bit of the work for him as well. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted October 6, 2023 Share Posted October 6, 2023 The Federal Reserve is never going to lower interest rates ever again. Payrolls soared by 336,000 in September, defying expectations for a hiring slowdown WWW.CNBC.COM Nonfarm payrolls were expected to increase by 170,000 in September, according to the Dow Jones consensus estimate. Quote Job growth was stronger than expected in September, a sign that the U.S. economy is hanging tough despite higher interest rates, labor strife and dysfunction in Washington. Nonfarm payrolls increased by 336,000 for the month, better than the Dow Jones consensus estimate for 170,000 and more than 100,000 higher than the previous month, the Labor Department said Friday in a much-anticipated report. The unemployment rate was 3.8%, compared to the forecast for 3.7%. Stock market futures turned sharply negative following the report and Treasury yields jumped. Stocks opened lower, with the Dow Jones Industrial Average down close to 150 points in early trading. The 10-year Treasury yield soared 0.11 percentage point to 4.83%, up around its highest levels since the early days of the financial crisis. The payrolls increase was the best monthly number since January. “Slowdown? What slowdown? The U.S. labor market continues to exhibit amazing strength, with the number of new jobs created last month nearly twice as large as expected,” said George Mateyo, chief investment officer at Key Private Bank. Investors have been on edge lately that a resilient economy could force the Federal Reserve to keep interest rates high and perhaps even hike more as inflation remains elevated. Wage increases, however, were softer than expected, with average hourly earnings up 0.2% for the month and 4.2% from a year ago, compared to respective estimates for 0.3% and 4.3%. 2 Quote Link to comment Share on other sites More sharing options...
TUFKAK Posted October 6, 2023 Share Posted October 6, 2023 Laughs in homeowner seriously though how is anyone expected to buy anything now Quote Link to comment Share on other sites More sharing options...
rc0101 Posted October 6, 2023 Share Posted October 6, 2023 1 hour ago, Commissar SFLUFAN said: The Federal Reserve is never going to lower interest rates ever again. Payrolls soared by 336,000 in September, defying expectations for a hiring slowdown WWW.CNBC.COM Nonfarm payrolls were expected to increase by 170,000 in September, according to the Dow Jones consensus estimate. Another rate hike in November and bond yields going crazy. Quote Link to comment Share on other sites More sharing options...
Jason Posted October 6, 2023 Share Posted October 6, 2023 27 minutes ago, TUFKAK said: Laughs in homeowner seriously though how is anyone expected to buy anything now Guess you gotta get run over by a garbage truck. Quote Link to comment Share on other sites More sharing options...
elbobo Posted October 6, 2023 Share Posted October 6, 2023 34 minutes ago, TUFKAK said: Laughs in homeowner seriously though how is anyone expected to buy anything now Yeah I am at the point in my life where I will hopefully never have to take on debt again but with current costs of homes/Cars combined with the relatively high interest rates anyone starting out is completely fucked for the foreseeable future Quote Link to comment Share on other sites More sharing options...
TUFKAK Posted October 6, 2023 Share Posted October 6, 2023 38 minutes ago, elbobo said: Yeah I am at the point in my life where I will hopefully never have to take on debt again but with current costs of homes/Cars combined with the relatively high interest rates anyone starting out is completely fucked for the foreseeable future Outside of one car to replace my Giulia in the future I’m done, except maybe one house abroad, I have absolutely no clue how anyone can get ahead with these rates. My mortgage would be unaffordable with current rates for instance and I make well into the six figures. The American dream everyone. Quote Link to comment Share on other sites More sharing options...
Ominous Posted October 6, 2023 Share Posted October 6, 2023 Good thing these rate hikes have helped drive home prices down... 1 Quote Link to comment Share on other sites More sharing options...
ThreePi Posted October 6, 2023 Share Posted October 6, 2023 Put more money in online high yield savings accounts and then put a much bigger down payment on any home/auto loan. Quote Link to comment Share on other sites More sharing options...
Jason Posted October 6, 2023 Share Posted October 6, 2023 7 minutes ago, ThreePi said: Put more money in online high yield savings accounts and then put a much bigger down payment on any home/auto loan. Housing appreciation is going to wildly outstrip HYSA yields unless we start building significantly more housing, and new housing starts are majorly depressed by high interest rates. Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted October 6, 2023 Share Posted October 6, 2023 It's almost like the solution to the housing crisis is just to build millions of more homes all over the place. Yes, money and rates are a part of that...but the bigger issue are zoning laws preventing mass development. Quote Link to comment Share on other sites More sharing options...
TUFKAK Posted October 6, 2023 Share Posted October 6, 2023 42 minutes ago, CitizenVectron said: It's almost like the solution to the housing crisis is just to build millions of more homes all over the place. Yes, money and rates are a part of that...but the bigger issue are zoning laws preventing mass development. But how is private equity supposed to make money that way? Quote Link to comment Share on other sites More sharing options...
GeneticBlueprint Posted October 6, 2023 Share Posted October 6, 2023 55 minutes ago, Ominous said: Good thing these rate hikes have helped drive home prices down... The house next to me listed for 625k. It sold for 500k a week ago. That's not driving them down but that's how much I bought my house for a year and a half ago. Quote Link to comment Share on other sites More sharing options...
finaljedi Posted October 6, 2023 Share Posted October 6, 2023 Houses are going for higher than asking here. A place near me was listed for $560k and sold to a cash buyer inside 2 weeks. Little brick ranch style built in the mid 20th century. Quote Link to comment Share on other sites More sharing options...
TUFKAK Posted October 6, 2023 Share Posted October 6, 2023 12 minutes ago, GeneticBlueprint said: The house next to me listed for 625k. It sold for 500k a week ago. That's not driving them down but that's how much I bought my house for a year and a half ago. But with rates now that mortgage is probably higher than two years ago. 1 Quote Link to comment Share on other sites More sharing options...
chakoo Posted October 6, 2023 Share Posted October 6, 2023 I live in dt toronto near rich people, houses near me go from 3mil - 8mil Hell 2 bedroom condo near me start around 1.2-1.4 mil. =/ Housing in Canada is pretty bad near major cities. Quote Link to comment Share on other sites More sharing options...
Ominous Posted October 6, 2023 Share Posted October 6, 2023 44 minutes ago, TUFKAK said: But with rates now that mortgage is probably higher than two years ago. 2.5 or 1.9 VS something in the 7s....hella rough lol. Quote Link to comment Share on other sites More sharing options...
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