Thursday, March 23, 2017
(Daniel Barker) On Wednesday, March 15, the Federal Reserve announced it had raised its benchmark interest rate by a quarter point – a move likely to have noticeable effects on the economy, and not necessarily positive ones.
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by Daniel Barker, March 21st, 2017
In fact, many worry that the move could trigger severe financial consequences, including a long-feared adjustment of the stock market that (according to at least one analyst) could send share prices tumbling 6,000 points to below 15,000 – nearly 30 percent below last week’s close.
Raising rates will also affect other sectors of the economy. Some fear rate hikes could lead to another housing crisis – when interest rates are high, it’s more difficult…
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