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

[sprinkleeninow]

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...

[Casady1]

1. Powell is clueless

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

[sprinkleeninow]

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

Case in point: The Federal Reserve.

What color are his stripes? Red?🤔

[Alpeduez21]

3. How does raising the rate bring prices down

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

[Casady1]

4. Here is the explanation

We want to get people laid off so the employee is now begging for a job. This crushes people spending money.

[live love laugh]

5. ✔️+ "Back to work!" *whip crack*

[sprinkleeninow]

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

[live love laugh]

7. Not sure who proposed it--they do so much it's hard to keep up.