The Daily sheeple must have slept through Econ101. This raising of the rates was looked forward to and nearly all economist today welcome it and Wall Street loves it. It will tame inflation, actually create more lending and give savers more money among many other points.
Yellen raising the rates was the best thing to help Trump in 2017.
Stagnat or weakening economies lower rates.
@Oceander
@skeeter
@rangerrebew
@IsailedawayfromFR
The points you are missing out on are
1. the timing of these - not a coincidence at all at the end of Obama's term is it?
2. The staggering amount of interest on federal debt that each rate increase will result in.
Any matured Treasury securities will be at higher interest rates and yield correspondingly higher interest payments. May be good for a new bond holder but certainly not for existing longer term bondholders or for the taxpayer which pays that increased interest.
3. If this rise in rates was so warranted and imminent like you proclaim, why would a patriotic President not turn most of our shorter-term debt into debt with longer terms to keep this debt level down during the rise of rates?
These are political actions, not necessarily just economic ones like you refer to.
First class I ever took in college was Economics, and it was a three hour course, not a one hour course you allude to.