The Federal Reserve
has increased the interest rate they charge to banks 7 times since 1/1/17.
Trump was elected. Obama had crashed the economy, but was gone. The Federal
Reserve joined in to do what they could to crash Trump’s economic recovery.
The seventh time was a
charm.
2017 & 2018 Fed
Funds Interest Rates
3/16/17 1.0%
6/15/17 1.25%
12/14/17 1.5%
3/22/18 1.75%
6/14/18 2.0%
9/27/18 2.25%
12/19/18 2.5%
2019 2.8% planned
On 12/19/18, the Fed
killed the Bull Market we have seen since the 2008 Mortgage Meltdown when the
Dow collapsed to 6,726.02.
Interest rates will
increase by 0.25%, so all loans tied to the Prime Rate will go up. Mortgage rates are 4.5% on 30 year loans.
On 11/11/16, the Dow stood
at 18,847.66. On 9/20/18 the Dow hit its
peak at 26,656.98. By 12/12/18 the Dow had dropped to 24,682 on rumors of a Fed
Rate hike.
On 12/19/18 it had dropped
3,333.32 points from its peak to 23,323.66 after the Fed announced an
additional increase in the fed funds rate. On 12/20/18 the Dow continued to
drop to 22,853.02.
Norb Leahy, Dunwoody
GA Tea Party Leader
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