Mortgage rates drop as inflation drops

Stone said:
So Biden picked the people when Trump was President YOU FUCKING IDIOT?
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trump picked the board members appointed during his presidency, and Biden has picked the board members appointed after that.

We really do waste a lot of time with stuff you should already know.
 
Stone said:
Lurch,...Shes on your team So Im asking you to intervene. Will you tell this fucking idiot old sow that the FED IS IN FACT independent ? Thanks...:laugh:
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Supposed to be independent. Somehow, trump scared the crap out of the Fed chair and they lowered rates to nothing.

Now they're more in line with what they should be.
 
evince said:
From your link



But the Fed is also a quasi-governmental agency with a board of governors selected by the President and approved by Congress.




The president picks the people who then set the policy idiot


He picks people who agree with his way to manage the economy
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I don't think any POTUS wants high interest rates that will slow down an economy
 
Walt said:
trump picked the board members appointed during his presidency, and Biden has picked the board members appointed after that.

We really do waste a lot of time with stuff you should already know.
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So Biden picked the current Fed chairman? Huh...dummy? Or did Trump? :cool:
 
LurchAddams said:
So, if you have a fixed rate mortgage which millions of Americans do, the interest rate increase had zero effect. Interest rates rise and fall. Funny thing as they seem to be inverse to home prices. I think it's because the high interest rates reduce the demand for housing, thus prices fall.

All of this is worldwide and cyclical. Biden trump, no one can affect it. I know you want to blame Biden, but from the recent midterms, no one's buying that.
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It just slows new sales on homes/cars, etc. It also means that only those who can afford those things are buying...which is how it should be.
 
Walt said:
They are a semi-autonomous branch of the government. Their voting board members are picked by the government. The authorization to do what they do is through Congress. They are required to give reports to the President and Congress. Banks are required by the government to deposit money with them.
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Agreed there is a lot of crossover but the fed does act independently and they aren’t part of any branch of government.
 
Concart said:
I hate saying this...... Stone is correct. While the President appoints the Fed chair, the Fed is a private organization owned by the member banks. They are not a branch of the government. There is certainly a lot of crossover, for example, any profits from the Fed must be given to the Treasury, but by and large, the Fed sets policy and is a lender of last resort. That being said, I haven't seen very many posters here who understand even at a basic level what the Fed does and why.
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You didn't find it odd that as soon as trump was whining about high interest rates, the Fed acted? Nobody thought that was a good idea at the time.
 
Stone said:
So Biden picked the current Fed chairman? Huh...dummy? Or did Trump? :cool:
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Actually, both did... Obama first appointed Powell to the board, trump elevated him to chairman, and Biden reappointed him as chairman.

How do you not know this stuff? I am serious. Both the original appointment as chairman, and the reappointment were huge news stories.
 
Concart said:
Agreed there is a lot of crossover but the fed does act independently and they aren’t part of any branch of government.
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The Supreme Court acts more independently, and they are definitely part of the government. The Fed is a semi-autonomous agency, which means their policy is decided independently, but their authorization is under the government.
 
Walt said:
Actually, both did... Obama first appointed Powell to the board, trump elevated him to chairman, and Biden reappointed him as chairman.

How do you not know this stuff? I am serious. Both the original appointment as chairman, and the reappointment were huge news stories.
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I do wally. They are STILL independent from the Govt in their actions though. How you do not know this is amazing. I knew you were a goofball, just didnt know you were a Desh level goofball.
 
Stone said:
They are STILL independent from the Govt in their actions though.
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They are independent from the rest of the government in their actions, but they are the government, so they cannot be independent of the government. The Supreme Court is independent from the other branches of government, but still is part of the government. The Congress is independent of the White House, but still both are part of the government.

This is not that complex. I am still shocked you did not know Powell's appointment history.
 
Althea said:
It just slows new sales on homes/cars, etc. It also means that only those who can afford those things are buying...which is how it should be.
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Which in turn lays off construction and auto workers. Yep, the way it should be, right? :palm:
 
evince said:
You really have no idea what’s going on here huh


They were raised to tame inflation


That inflation was created by GLOBAL CONDITIONS


The Biden fix is proving to be working just as planned


We are healing much faster than the rest of the world


Utter PROOF Biden was correct
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Inflation is caused by printing money faster then wealth being created. That's still happening.
 
Into the Night said:
Inflation isn't dropping.
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America is doomed, because one side will not stop lying. It is a provable fact that inflation is dropping. It is not dropping as fast as we would like, but it is dropping. This is a fact that the alt right does not like, so they just lie.
 
Into the Night said:
Inflation is caused by printing money faster then wealth being created. That's still happening.
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Target inflation is 2%, so hopefully, inflation will continue to happen. The alternative to inflation, deflation, is the civilization destroyer. We really do not want that. 2% inflation is a mild tax on laziness, so works well.

Inflation is down from a high of 9.1% to 7.7% recently. Hopefully it will continue to drop down to 2%, but that will take time. With any luck, it will not overshoot and actually drop below 2%. No inflation, or deflation would be a disaster.
 
I can't find anybody celebrating 7.7% inflation but Joe and three people here..;)
 
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