by confoundedinterest17
Another Saturday high for the Biden Administration. Americans got less money thanks to Bidenflation.
The US 30yr Mortgage rate just hit a new high since 2000 as The Federal Reserve counterattacks the highest core inflation rate (6.60%) since 1982.
According to the Taylor Rule (which The Fed has chosen to ignore), a 6.60% core inflation rate implied a Fed target rate of 12.40%. Not likely since Fed Funds Futures data points to …
![](https://confoundedinterestnet.files.wordpress.com/2022/10/trcorecpi.gif?w=736)
A maximum target rate of 4.963% at the May 2023 FOMC meeting, significantly lower than the needed rate of 12.40%. The Fed is like the world’s worst bar bouncer.
![](https://confoundedinterestnet.files.wordpress.com/2022/10/wirp101522.gif?w=1024)
Rather than accepting blame for the horrific inflation rate crushing the American middle class and low wage workers, Biden is twisting the night away.
![](https://confoundedinterestnet.files.wordpress.com/2022/10/ffety1kwqaevyc9.jpg?w=558)
![](https://confoundedinterestnet.files.wordpress.com/2022/10/image-12.png?w=1014)