Of Course They Did

The Federal Reserved has decided not to cut rates again, because they want wage growth to, "slow down."

Looking at all the stock buybacks, dividend hikes, and outrageous pay packages, I'd say that "Greedflation" is more of a problem, but what do I know:

The Federal Reserve acknowledged a recent setback in its inflation fight but said it was more likely to keep interest rates at their current level for longer than to raise them again.
Officials held their benchmark federal-funds rate steady Wednesday at a range between 5.25% and 5.5%, the highest in two decades and a level it reached last July, following a run of economic data that revealed simmering price pressures in the economy.

Fed Chair Jerome Powell indicated that the bar to cut interest rates had gone up, but that the bar to hike rates was even higher.

“It’s likely to take longer for us to gain confidence that we are on a sustainable path” to lower inflation, Powell said. He said he expected inflation would resume its decline this year, but added, “my confidence in that is lower than it was.”

At the same time, he said, for officials to put hikes back on the table, they would need persuasive evidence that higher interest rates weren’t bringing down inflation. “That’s not what we think we’re seeing,” Powell said. “That will be a question that the data will have to answer.”

In the run-up to Wednesday’s announcement, investors had been squirrelly over the prospect that Powell might entertain rate hikes. Stocks moved higher after Powell said he thought rate hikes were unlikely, but then they reversed course as investors digested his comments. 

It's really pretty simple, They have no problem with what Roosevelt called, "The malefactors of great wealth," robbing the rest of us blind, but if wages keep up with inflation, it's the end of the f%$#ing world.

F%$# that.