The FED dropped its rate by a quarter of a percent
After raising its rates 11 times between March 2022 and July 2023, the FED cut its rate for the second time 5 weeks by another quarter of a percent. After two substantial government funds transfers to the general public in 2020 and a subsequent one in 2021, personal savings of Americans spiked to more than six times its previous level and, of course, since we obviously couldn’t keep that money in our pockets, so, we not only spent all of it as fast as we could, we then increased our debt by 11%.
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(Original air-date: 12/20/24)
