Comment on: Fed's Kashkari says 'now is the time to start slowly moving' rates up
> I can't help but shake the feeling that the federal reserve is here for the wealthy, the bankers, and not for the rest of us, and anything they do is ultimately not for our benefit, but for theirs.Because that is what's happening. Our economy is fractured after years of catering to the wealthy at the expense of the working class (anyone who finances their life via their labor.)
Comment on: Fed's Kashkari says 'now is the time to start slowly moving' rates up
> Rates up, rates down, I'm so confused.You're making a lot of strong assertions for someone who acknowledges they don't understand pretty basic concepts in macroeconomics.> Would not lower rates mean more consumer spending, thereby injecting more spending and fluidity in the system?If managing the economics of a country was as simple as recognizing a relationship like, "when we move this number up, then things get better," then we'd be living in a utopia.If you want to assert that the Fed isn't helping the average citizen, then go ahead and join the large group of people who have been suggest
Comment on: Fed's Kashkari says 'now is the time to start slowly moving' rates up
> I can't help but shake the feeling that the federal reserve is here for the wealthy, the bankers, and not for the rest of usKashkari was part of the minority opinion. The Fed voted to keep rates steady, so I guess that means that the Fed is against the wealthy, bankers, and for the rest us?It turns out that having lot's of money is useful, including at taking advantage of the macroeconomic landscape. In a high interest rate environment, you get free money from yields. In a low interest rate environment, you get free money from leverage.The Federal Reserve is one of the last competent parts o
Comment on: Fed's Kashkari says 'now is the time to start slowly moving' rates up
> Would not lower rates mean more consumer spending> the feeling that the federal reserve is here for the wealthyIn a sense, the disconnect between these two things is also the explanation. The behavior of consumers is not directly coupled to the fed rate. What you or I do with our money won't change if the rate goes up or down a percent, because we just don't have enough money for it to make a difference to our daily life.But it often takes a loan to start a business. And when the bank is considering who to make loans to, higher fed rates mean they need to charge more interest, which means ri