Wednesday, November 2, 2016
Will the Fed Hike Interest Rates this December?
This week, the Federal Reserve Board is to meet to go over interest rate policy and the current economic standing of the United States. It is not expected that interest rates will rise this session, due to the election and the Fed’s strategy to not step into that spotlight, however it won’t be a surprise if members of the Fed’s policy making Open Market Committee (FOMC) lock in a higher rate during it’s next meeting in December.
Those pushing for an increase in interest rates argue that because the economy is nearing its full employment capacity, further reductions in the unemployment rate will pressure wages to raise with the rates. This translates to higher inflation.
The opposing ARGUMENT sheds light on the fact that the percentage of prime age (25 – 54) workers who have jobs is still down almost 2.0% since the 2008 recession; even though the unemployment rate is low, it may not be accurate due to people giving up looking for work because hope of finding a job was lost.
Want to read the full article? Click Here: http://www.huffingtonpost.com/dean-baker/is-the-economy-growing-to_b_12741458.html
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