Wednesday, March 15, 2017

Never Mind the President.  Forget About Congress.  Here is who is raising your cost of living today.
Image result for janet yellen
In a few hours the cost of owning a home will go up.  Car buying will cost more.  The bottom line of any business using debt financing will suffer.  Anyone owning bonds will see a capital reduction.
All because Janet Yellin and her Federal Reserve partners will decide to raise interest rates by a quarter point.  No Congressional action needed.  No signature by the President required.  No Supreme Court review.  After she announces the decision banks will instantly raise what they charge borrowers .  No waiting period for this.
And who elected the Federal Reserve?  Nobody.

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