Fed Raises Interest Rates In Effort To—Hey, Pay Attention, This Is Important!

WASHINGTON—With inflation at a 40-year excessive, the Federal Reserve raised its benchmark rate of interest this week in an effort to—hey, come on, concentrate, that is actually essential! The Shopper Worth Index has gone up 8.6% since Could of final yr, and so the Fed’s hike of three-quarters of some extent is aimed toward…howdy? Get up! Look, I do know it’s not essentially the most thrilling factor on this planet, however this fee leap is the most important since 1994. Are you with me nonetheless? You’re targeted? Promise? Okay, good, as a result of the price of borrowing cash, whereas nonetheless comparatively low in historic phrases, might proceed to—yo! Are you critically checking your Instagram proper now? What the hell? I notice studies from the Fed aren’t as thrillingly paced as a Marvel film, however this impacts the entire fucking economic system! Together with you! If you wish to purchase a automotive or a house, it’s going to make an enormous distinction, okay, shithead? Get it collectively for 5 goddamn seconds so we will let you know the Fed is struggling to stroll a tightrope between potential ’70s-style stagflation and a devastating financial crash. Really, you recognize what? Neglect it. Do regardless of the fuck you need. See if we care. Prick.