Despite rising inflation, the Fed has raised it’s lending rate a quarter point today to a total of 1%, and officials from non-federal entity have declared there will be a total of three rate increases this year alone.
Fed chair Janet Yellen claims the economy is “doing well,” despite the fact that the actual economic data shows an economy that is sluggish at best, with Bloomberg reporting, “Retail sales in February grew at the slowest pace since August, a government report showed earlier Wednesday. The Atlanta Fed’s model for GDP predicts an expansion of 0.9 percent in the first quarter, less than a third the pace Trump is aiming for.”
All you need to know about the Fed’s rate hike, according to Janet Yellen: “The simple message is the economy is doing well.”
— Rex Nutting (@RexNutting) March 15, 2017
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