Additional rate hike could be needed if inflation stays high

[HarleyDog]

(04-05-2024, 08:21 PM)Sociopathicsteelerfan Wrote: I'd be buying a new car this year if interest rates were reasonable.  I'll be damned if I'm going to pay 6.4% APR with my credit rating.  Damned highway robbery.

Yep, we bought my wife a new car a few years ago and she's ready for an upgrade. When we purchased, we got an interest rate of 4.5%. Checked into a new one and was shocked at what they were pushing. Bad thing, we both have great credit scores. I hate paying interest on anything which is why I try to buy things outright with cash if I can. I refuse to hand over free money. I'm glad she's in the same mindset.

(04-05-2024, 09:09 PM)NATI BENGALS Wrote: If we keep having blowout jobs reports, which we did today, which could be why she said that if that was comments from today. And inflation stays above their 2% target… We may very well see rate hikes. I don’t think there is anything political about it. They need to be allowed to do their job and not have to worry about partisan bullshit.

You would think. But like I said, it's an election year and Biden is claiming we have the best economy. We don't if inflation is still high enough to keep raising rates. All this means is our economy is out of control and people still can't afford to, or are struggling to live (overall). I'm not as quick to throw away the possibility that politics doesn't play a part of the market shaking. It's things like this that encourage people to distrust the market and rightfully so. If rates rise again, it's going to create even more strain on Americans. Doesn't bode well for POTUS chances of reelection.