The first Fed rate hike under Powell came in March when inflation was already way out of control, and Americans began loading up their charge cards at 18-28% interest to cope.
That's even more insane to me than the inflation.
The main Fed interest rate is still at 3.08% today, the rate available only to the banks, the same guys who pay you 0% interest, with inflation just cruising along up there above 8%.
It took the Fed over a year to move. A year. And then by just 0.75 points at a time, which the stock market parasites screamed bloody murder about.
Pretty amazing to me that ordinary folks aren't screaming, aren't mad as hell, and seem to be prepared to just swallow and take it some more.
I guess the fight has been bred out of the American people.
Sad!
