{"id":5256,"date":"2023-11-01T02:01:53","date_gmt":"2023-11-01T02:01:53","guid":{"rendered":"https:\/\/connectwithfund.com\/business\/everything-you-wanted-to-know-about-fed-day-and-were-afraid-to-ask\/"},"modified":"2023-11-01T02:01:54","modified_gmt":"2023-11-01T02:01:54","slug":"everything-you-wanted-to-know-about-fed-day-and-were-afraid-to-ask","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=5256","title":{"rendered":"Everything you wanted to know about Fed day and were afraid to ask"},"content":{"rendered":"
\n

\n While you\u2019re busy handing out candy to trick-or-treaters, Federal Reserve officials are doing something a lot less riveting, most people would say.\n <\/p>\n

\n After finishing the first day of their two-day meeting, they\u2019re probably still thinking about all the discussions they had about the economy. Then tomorrow comes the big decision on interest rates.\n <\/p>\n

\n But this time around, it doesn\u2019t feel like such a big decision. That\u2019s because the central bank is widely expected to hold interest rates steady for the second meeting in a row.\n <\/p>\n

\n It may seem a little strange given all the recent data that\u2019s suggesting the economy is doing really well. Or as many economists are implying, scary well.\n <\/p>\n

\n That\u2019s because what may appear like good news for the economy isn\u2019t necessarily that good.\n <\/p>\n

\n For instance, last week\u2019s\u00a0gross domestic product report<\/strong>, which showed the economy grew at a remarkably strong pace in the third quarter, on the surface sounds like something worthy of celebrating. The Biden administration certainly did.\n <\/p>\n

\n But in my view, good economic reports are ones that show sustainable trends. And in many economists\u2019 view the third-quarter GDP report shows the economy isn\u2019t growing at a sustainable pace.\n <\/p>\n

\n In other words, the good times may not last very long before the party\u2019s over and the economy wakes up with a big hangover.\n <\/p>\n

\n Some FAQs<\/strong>\n <\/p>\n

\n Q: If the economy is growing too fast, why isn\u2019t the Fed doing something about it?\u00a0<\/strong>\n <\/p>\n

\n A:\u00a0<\/strong>The Fed has been doing something about it for the past year-and-a-half. By raising interest rates to the highest level in 22 years, the central bank has slowed the economy in many ways. For instance, fewer jobs are being added each month compared to a year ago. The problem is it can take some time for the impact of interest rates to be felt across the economy. That\u2019s why the Fed is trying to proceed cautiously right now.\n <\/p>\n

\n Q: Bond yields are already so high. Isn\u2019t that basically an interest rate hike anyway?<\/strong>\n <\/p>\n

\n A:\u00a0<\/strong>Yes, that\u2019s correct.\u00a0Bond yields, namely\u00a0the yield on the 10-year Treasury note, dictate the interest rates on credit cards, mortgages and auto\u00a0loans. When those rates go up, borrowing money becomes more expensive.\u00a0Hence, they\u2019re essentially accomplishing the same thing a Fed rate hike would. And that\u2019s one of the reasons the Fed likely won\u2019t be raising interest rates tomorrow.\n <\/p>\n

\n Q: So are we getting that rate cut any time soon?<\/strong>\n <\/p>\n

\n A:\u00a0<\/strong>I wouldn\u2019t bank on it. The general sense I\u2019m getting is that the Fed may be done hiking but they\u2019re going to keep rates high for a while.\n <\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

While you\u2019re busy handing out candy to trick-or-treaters, Federal Reserve officials are doing something a lot less riveting, most people would say. After finishing the first day of their two-day meeting, they\u2019re probably still thinking about all the discussions they had about the economy. Then tomorrow comes the big decision on interest rates. But this time around, it doesn\u2019t feel like such a big decision. That\u2019s because the central bank is widely expected to hold interest rates steady for the second meeting in a row. It may seem a little strange given all the recent data that\u2019s suggesting the economy<\/p>\n","protected":false},"author":1,"featured_media":5257,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[],"class_list":["post-5256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\nEverything you wanted to know about Fed day and were afraid to ask | ConnectWithFund<\/title>\n<meta name=\"description\" content=\"While you\u2019re busy handing out candy to trick-or-treaters, Federal Reserve officials are doing something a lot less riveting, most people would say. 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