After several years of near-zero interest rates throughout the covid plandemic, the Fed has been on a steady rate-hiking spree, which corresponds with a steady decline in the stock markets.
The main, if not only, tool the Fed has at its disposal to try to stop all the bleeding is to keep raising the short-term borrowing rate for commercial banks, which then pass that rate on to consumers and businesses.
The stated goal of this is to cool the economy and ease the cost of living, but the reality is that loan payments are surging, which is very bad news for people who live in and rely on debt to go about their daily lives.
Last week, mortgage rates hit 7.16 percent, which is already well above the rates that were seen just before the "Great Recession" of 2008. (Related: Learn more about how the Federal Reserve uses its fake fiat currency Ponzi scheme to steal the value of your labor and innovation and hand it over to banks).
The possibility of a soft economic landing has "narrowed," Powell concedes
For the fourth consecutive time in five months, the Fed increased interest rates by 0.75 percentage points from 3.25 percent to 4 percent – and more rate hikes are soon on the way.
The overall increase so far represents the biggest rate hike in 28 years. And there is still another at least 0.6 percentage point hike coming in December, followed by even more in 2023.
According to Fed Chair Jerome Powell, all these rate hikes will cool demand for homes, cars and other goods and services, which he claims will slow inflation. The reality, though, is that Americans will become increasingly less able to live and put food on the table.
"My colleagues and I are strongly committed to bring inflation down to our 2 percent goal," Powell stated in his most recent speech. "We will stay the course until the job is done."
Powell does not believe that America's private central bank has "overtightened" or "moved too fast" with these rate hikes. He is still aiming for a "soft landing" to ensure that the banking cartels get away with grabbing as much loot as possible while the everyday Americans they are screwing get left with nothing.
"It will take time ... for the full effects of monetary restraint to be realized, especially on inflation," Powell went on to say.
By 2023, according to many experts, the United States will already be well into another recession, if not a record-breaking depression. Many factors are contributing to what is rapidly shaping up to be the biggest economic collapse this country has ever seen.
When asked about pausing rate hikes, which would almost certainly result in near-immediate hyperinflation, Powell said softly that "it is very premature to think about pausing."
Powell did admit that the possibility of a soft economic landing has "narrowed" significantly since his earlier claims, but that one is "still possible" by just believing it can happen.
"We've always said it was going to be difficult, but to the extent rates have to go higher and stay higher for longer it becomes harder to see the path," Powell added in a rewritten version of history (remember when he falsely claimed that inflation was "transitory?")
"I would say the path has narrowed over the course of the last year."
More related news about the Federal Reserve can be found at DollarDemise.com.
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