Few things...

 

Fed hikes its benchmark interest rate by 0.75 percentage point, the biggest increase since 1994

"The Federal Reserve on Wednesday launched its biggest broadside yet against inflation, raising benchmark interest rates three-quarters of a percentage point in a move that equates to the most aggressive hike since 1994."

Ending weeks of speculation, the rate-setting Federal Open Market Committee took the level of its benchmark funds rate to a range of 1.5%-1.75%, the highest since just before the Covid pandemic began in March 2020."

“Clearly, today’s 75 basis point increase is an unusually large one, and I do not expect moves of this size to be common,” Powell said. He added, though, that he expects the July meeting to see an increase of 50 or 75 basis points. He said decisions will be made “meeting by meeting” and the Fed will “continue to communicate our intentions as clearly as we can.”

("I do not expect moves of this size to be common"

Says the guy who said it wasn't going to be a problem, that inflation was only hitting service industries severely affected by Covid, then that inflation would be transitory etc...

"...the Fed will “continue to communicate our intentions as clearly as we can."

Let me give you my translation for the above statement:

We wish we could tell you that the great depression is gonna seem like a picnic compared to how things are gonna be here real soon (the next six to nine months) but we just cant because it would cause such a large scale panic, etc.)

"The Fed’s benchmark rate will end the year at 3.4%, according to the midpoint of the target range of individual members’ expectations. That reflects an upward revision of 1.5 percentage points from the March estimate. The committee then sees the rate rising to 3.8% in 2023, a full percentage point higher than what was expected in March.)

(Lets review:

1) 3.4% by the end of next year wont touch 8.6% inflation. But it will sure crash the housing market.

2) Now they are saying 3.8% by the end of next year. Remember they are moving the goal post every time they say anything and at 4% we default on the interest on the national debt.

History of Federal Open Market Committee actions

Fed Rate Hikes:

March 15, 2020 0%–0.25%

Stayed that way till: 

March 16, 2022   0.25%–0.50%       

Then

  May 4, 2022      0.75%–1.00%       

and now:

June 15, 2022     1.50%–1.75%      

So in three months we went from .25% to 1.75%, but in the next 18 months (end of 2023) were only going to go up 2% more to 3.8%?

Where I come from we got a saying for that kinda thing:

"That dog don't hunt."

And that's the biggest thing you need to know about the latest rate-setting Federal Open Market Committee meeting that you wont hear very many other places.

3.8% still wont touch 8.6% inflation and interest rate hikes wont do a thing for supply shocks now criss crossing the globe in food and energy.

Discernment Alert:

Why are they so concerned about staying below 4% but not telling you why?

Because they know what happens...You should to.)

"The committee’s statement painted a largely optimistic picture of the economy even with higher inflation."

(They have to or there would be the large scale panic as mentioned above. Whats really the difference between that and Russian or Chinese propaganda that they feed their citizenry? "But we have a special relationship with God" the white Christian nationalist wanna tell you. Bout as special as every other kingdom thats ever existed has been, yup. The Book tells you which kingdom to put your faith in.)

"Banks use the rate as a benchmark for what they charge each other for short-term borrowing. However, it feeds directly through to a multitude of consumer debt products, such as adjustable-rate mortgages, credit cards and auto loans."

(Translation:

Most everybody just took a pay cut the other day without even knowing it till the bills start coming in.)

"Average hourly earnings have been rising in nominal terms, but when adjusted for inflation have fallen 3% over the past year."

(See above

Revelation 6:6

And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.

rich get richer, poor get poorer, starvation wages etc...)

"All of those factors have combined to complicate Powell’s hopes for a “soft or softish” landing that he expressed in May. Rate-tightening cycles in the past often have resulted in recessions.'

He can hope all he wants to.

In the words of JPMorgan Chase CEO Jamie Dimon:

'You better brace yourself..."

You can look back on here and see I'm no fan of Mr Dimon but he is 100% right about whats coming...

We wont have history books in 50 years...

Godspeed.