The Federal Reserve raised the interest rate to which it lends to banks $0.25 This rate increase will be the largest in which they lend to banks since 2007. For home buyers will be paying approximately 6.5% to buy a a home. The big problem is the elephant in the room, inflation. When the Federal Reserve raises rates it says that to slow down inflation they need to make it harder to borrow money. Under President Jimmy Carter it reached the highest. I remember interest rates was 18.5% but was 40 years ago and yes I am getting older as time goes on.
If interest rates were trying to stop inflation they would be at approximately 12% now but the Federal Reserve would for certain be helping the United States get a new President for President Biden is in my opinion the worse President we have ever had except for Jimmy Carter. Jimmy Carter was the worse President but President Biden is trying to catch former President Carter for the worse President we have ever had. President Biden though has only been in power for 2.5 years so Biden still has another 1.5 years.
President Biden though doesn’t have all the hostages that President Jimmy Carter had when Iran took over our embassy. But then President Biden is trying to stop all oil drilling and fracking. This president is so worried about global warming he can’t see that we are not ready to be worried about electric cars. Most people don’t want anything to do with electric cars when the United States has the most Oil and Natural gas in the world. But he is to old to see that John Kerry is pushing this crazy global warming theory for the world but the problem is only the United States has great clean air and only a couple of states have catalytic convertors.