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Episode 31 – The Fed Hikes Rates and Russian Hacking
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In this episode, I discuss the Federal Reserve’s decision to raise the Federal Funds rate target from 25-50 basis points to 50-75 bps. The post-election run up in stock prices gave the Fed perfect cover to raise rates, its only hike of 2016. The Fed is also projecting three rate hikes in 2017, which I find laughable. It projected four hikes in 2016; it actually hiked once. I also discuss the “Russian hacking” allegations. First, the evidence supporting the hacking allegations against Russia is pretty flimsy. Second, should we even care? If the information we were provided with was true, we should welcome that additional information. I would like to see the evidence of Russian influence in the election before giving my full opinion on this issue, but I have not seen any evidence that we should consider this a harmful act on the part of the Russians.
Suggesting Reading/Referenced Articles:
“‘Gold Is Now Effectively Illegal’ In India – The Consequences Of Creating A Cashless Society” – Zero Hedge
“Fed lifts rates, sees faster pace of hikes in Trump’s first year” – Reuters
“Economists doubtful on three Fed interest rate rises” – Financial Times
“Trump Cruises to Electoral College Victory Despite Protests” – ABC News
“Secret CIA assessment says Russia was trying to help Trump win White House” – Washington Post
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