Economy

sprinkleeninow

(20,546 posts) Tue Mar 7, 2023, 04:59 PM Mar 2023

Yahoo Market News: Stocks sink after Powell tells Congress rates could go 'higher'

U.S. stocks fell Tuesday after Federal Reserve Chair Jerome Powell told Congress that interest rates are likely to go "higher" in the face of persistent inflation.

https://finance.yahoo.com/news/stock-market-news-today-live-updates-march-7-2023-143312540.html

They *could* go higher, but they don't have to.

Rate hike...some people need to take a hike...

7 replies

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Highlight:

Yahoo Market News: Stocks sink after Powell tells Congress rates could go 'higher' (Original Post) sprinkleeninow Mar 2023 OP

Powell is clueless Casady1 Mar 2023 #1

I trust not many having power to manipulate facets of our government. sprinkleeninow Mar 2023 #2

How does raising the rate bring prices down Alpeduez21 Mar 2023 #3

Here is the explanation Casady1 Mar 2023 #4

✔️+ "Back to work!" *whip crack* live love laugh Mar 2023 #5

Which one o' them proposed that opeepo should go back to work & rely less on SS?? sprinkleeninow Mar 2023 #6

Not sure who proposed it--they do so much it's hard to keep up. live love laugh Mar 2023 #7

Casady1

(2,133 posts)

1. Powell is clueless

Reply to sprinkleeninow (Original post)

Tue Mar 7, 2023, 05:02 PM

Mar 2023

He has no background in economics. He is a financier.

sprinkleeninow

(20,546 posts)

2. I trust not many having power to manipulate facets of our government.

Reply to Casady1 (Reply #1)

Tue Mar 7, 2023, 05:09 PM

Mar 2023

Case in point: The Federal Reserve.

What color are his stripes? Red?🤔

Alpeduez21

(1,861 posts)

3. How does raising the rate bring prices down

Reply to sprinkleeninow (Original post)

Tue Mar 7, 2023, 05:25 PM

Mar 2023

What is the fed thinking? Raising the rate makes housing unaffordable. Makes cars less affordable. Doesn’t do anything to prevent corporate greedy fat cats from raising prices. I wish I could get an explanation for how this happens