(09-11-2018 01:39 PM)Claw Wrote: (09-11-2018 11:58 AM)VA49er Wrote: (09-11-2018 11:55 AM)miko33 Wrote: (09-11-2018 11:45 AM)Claw Wrote: (09-11-2018 11:44 AM)miko33 Wrote: Indeed. If you think the Fed is political, couldn’t imagine giving the power back to politicians.
I'll admit that it would be MORE political. You are right. But I don't think it is completely apolitical now. I'm not sure anything can be in today's environment.
It’s not perfect because of the human condition. But I’m glad you recognize that giving politicians the power would be worse.
Yep, I can foresee a raising or lowering of rates prior to every election depending on the party in power's whim. It would be a disaster.
And yet that is exactly what was done for Obama.
Date Fed. Funds Rate Discount Rate Votes
June 13, 2018 1.75%–2.00% 2.50% 8–0
March 21, 2018 1.50%–1.75% 2.25% 8–0
December 13, 2017 1.25%–1.50% 2.00% 7–2
June 14, 2017 1.00%–1.25% 1.75% 8–1
March 15, 2017 0.75–1.00% 1.50% 9–1
December 14, 2016 0.50–0.75% 1.25% 10-0
TRUMP ELECTED -----------------------------------------
December 16, 2015 0.25–0.50% 1.00% 10-0
June 22, 2011 0.00–0.25% 0.75% 10–0
December 16, 2008 0.00–0.25% 0.50% 10–0
OBAMA ELECTED ----------------------------------------------
October 29, 2008 1.00% 1.25%
October 8, 2008 1.50% 1.75%