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- เผยแพร่เมื่อ 30 เม.ย. 2024
- ABC News business reporter Alexis Christoforous breaks down what this means for the economy. ABC News' Alexis Christoforous has more.
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We did it Joe!
It's almost as if we're still recovering from one of the worst economic downturns on record. One that saw an erasure of 10yrs of job growth in the span of a couple of months.
@@donxavier10it’s almost as if Biden policies has made everything even worse then they already are
@@donxavier10no it’s because we had to print off trillions to pay off his goons
It was Putin!
@@irvingfr33😂
What goes up , must come down....except Inflation. 😢
Give thanks to Biden for that and remember to vote blue 💙 in 2024 for poverty and inflation.
If they're raking in record profits, it's called Corporate Greed.
The rate of inflation has come down. What you're thinking of is deflation. Yes correct, there has been no deflation.
@@nathanaelsegura2535 - It is world wide inflation. USA has the lowest inflation rate of all developed countries. Joe Biden caused world wide inflation? Search corporate greed. Fattest profit margins since the great depression. All during the pandemic. Biden wants to tax those guys. You don't. Who's fault?
So proud to be part of this joke we call a country
Why don’t you go to Gaza or Ukraine. Your kind are the ones that’s ruined this country. Sheeple
Congratulations! You’re also a joke.
ABC NEWS are such phonies did you notice they show march 2022 instead of when it was even lower under Trump .
Give thanks to Biden for that and remember to vote blue 💙 in 2024 for poverty and inflation.
Maybe you need a better job. I have my houses. I'm good everything is better than 4 years ago. Maybe you need to get a better job. Jobs are paying more than 4 years ago
It's not that interest rates are too high, it's that the price of houses is stupidly high. My mortgage was 8.75% 30 years ago and I managed.
Inflation. Thats the word you're looking for.
When my mom and dad bought their house it was worth 100k but the interest was 20% but it all came up to being 1000k a month. It was a flat rate. You are 100% correct.
Absolutely. 15 years ago 100k would get you a nice house. 100k today gets you a Jeep wagoneer.
It’s the combination of both
People don't get it
When does the "inflation reduction act" kick in
It already has, they just lied about the "reduction" part😎
As soon as the PA has prices go down the .04 cents they stopped taxing
The last 12 months. US inflation is around 3.3%, the last 12 months. In the UK, by comparison, it was 4.8%. In pacific Asia and Australia, it was 3.8%.
The IRA is working, and other FTC cases have lowered prices by breaking up cartels and unfair business practices in industry like eggs/poultry, grocery stores, and meatpacking.
Inflation is a global problem, America is subject to it. It's not like the president gets up every morning and sets global prices for the day. You'd have to be a child to think the president controls global oil prices. What do you want him to do? Fix prices? I thought that was communist?
And how, exactly, is Trump going to fix inflation? When I look at his platform, he doesn't have any plan at all. He has no idea, either. But he knows if he just waits it out, his supporters are so uninformed, and so absurdly wrong about basic forces in the economy, that they will credit him with defeating Inflation.
Even though Trump freely added 4 trillion to the defecit to pay for tax cuts and handouts for millionaires, and had no issue sending out stimulus checks on defecit, they don't care. None of the rules apply to Trump. Their opinion of Trump isn't based his actual performance, or his record on the economy. It's just based on feelings. So long as Trump says things that make you feel good, you'll tolerate him strip mining the economy, and using 2 trillion in defecit spending to pay for tax cuts for millionaires, as he did in TCJA. Reality doesn't matter. It never enters into the picture. Just the image of Trump as a permanent victim, and the feelings of victimhood and rage.
@@wolfumz you're a thoroughly brainwashed moron. What a waste of space.
It's like all you guys somehow forgot how things were before covid and the sleepy guy took the helm. Remember low interest rates, gas prices, grocery bills, energy bills and what else am I missing... Oh. Literally everything. Remember when there weren't multiple wars raging? The president and the administration absolutely does have an effect on the US and consequently the world economy. No of course they don't literally "set" prices but when you completley sabotage energy prices by drying up reserves, destroying pipelines, and stopping drilling, shut down the entire economy for the flu, and hand out trillions of $$$$ to fight proxy wars overseas.... everything this administration has done has poured gasoline on inflation and it's had a trickle effect on the entire world economy especially since many of the western economies have similar boneheaded dystopian WEF policies
I wish we had a different candidate than Trump because people are so obsessed with orange man bad but I liked how our country was doing with him in charge and honestly a tribe of monkeys would be better than this administration so sure, please God, Trump 2024
To think we had a chance to get rid of the Federal Reserve.
This is what happens when you elect people that don’t know what they’re doing.
Free is the key word. Motto of democrats, beware of that from them.
He knows by keeping the interest rate where it is slows people from buying, cools the market. However, great time to take your money and invest in CDs, 163k at 4.75 percent in one yr can get you 7k, for just sitting in the bank. That’s called savings, cuz savings isn’t the in thing these days, just fast cash. If you don’t like the price don’t bu6,more people like that will lower the price of the homes…..jeez take a class.
@@user-mv7yg8ve7n All BS.
Don’t hate the country, hate the leadership
It’s the leaderships fault every time bruh no matter who you vote for
@@lousashrex leadership was way better under Trump.
Leadership is the country
@lousashrex today it's the democrats, tomorrow it's the republicans. It's like being on a swing. Never asking why am I on this swing. Try the monkey bars for petes sake. 😂
The country is tolerant of such 'leaders' so long as the ball game is on TV. The sheeple get the leaders they deserve
They could’ve took that $92 billion and fix that overnight.. I’m bout to get the hell out of America ..a joke
Their answer "Too bad. Get another job." Over 50% of the US- fjb
JB has nothing to do with the Federal Reserve - learn how the country works.
You drooling retards don't even know how this country works, but think your opinion means something.
It is his Administration, learn how it works.
In 1978 30 year mortgage was 7% so what big deal that it is 7% today it just cost of doing business
@_NoHandle_
His policies influence everything having to do with our government - learn how the country works
Could it possibly be because of the drunken spending in Congress like it’s Spring Break?
Last year, Feds said he was going to lower it, but now he's not
Yes, inflation is still high. They had no choice. We gotta cool this thing down
Should have raised rates more aggressively the past 2 years but they wanted to give the snowflakes a soft landing. This is the result
Keep printing money,inflation happens! Duh!
Jesus Christ Americans are stupid....the inflation we are experiencing now ....IS DUE TO CORPORATE PRICE GOUGING
That's not what is driving inflation, dude. Spend two seconds doing some reading. Good lord.
There was an oil shock, and global bottlenecks in shipping / raw materials. Following that, the massive corporations that form oligopolies in various industries used the occasion to raise prices. That is, their costs went up 5%, they raise their prices 10% tell customers that it's Biden's fault, and pocket the difference. Its easy money. We know from financial disclosure forms, basically every retailer and fortune 50 company did this, from 2020 to 2023. Its only cooling now, since they've been caught out.
I can't believe how uninformed some people are. It's amazing to me how MAGA nuts confescend to others about how you, "you don't know business" and "its just supply and demand," then proceed to smugly say something that's totally wrong and uninformed, lol.
Would stop in 2025
What are the corporations saying during the earnings calls? Are they still making RECORD profits?
If so - this is more CORPORATE GREED than inflation.
Recession. Inflation prices never drop, remember it folks! Deflation is even worse for business! These prices are here to stay!
Remember a few years ago when big orange meanie was in charge! It was so horrible being able to afford housing and groceries. So so horrible.
Big Orange was telling people to ingest bleach as a treatment for COVID. How smart can he really be??
Remember a few years ago when businesses had to be shut down because the big orange idiot didn't take covid seriously and then handed out billions while cutting taxes on the wealthy ...... Yeah we do
Do you mean the orange meanie facing at least 91 felony charges?
They put chlorine in your drinking water. You've been ingesting bleach for years. @@BrianJohnson-du6pj
@@BrianJohnson-du6pj And other lies "people" who prove eugenicists had a point, like to parrot.
What's it called? Bidenomics?
The president doesn't control the fed, dude.
Some people are so uninformed, its amazing. I sometimes wonder what it's like, knowing so little.
@wolfumz Some people? I guess because I'm a black man, I must be uninformed. This is exactly why we're getting off the Democrat plantation. Good luck in November!
@@floydhutcherson1732 You wanna go to a Nike or Addidas store? lol
It’s an election year. Of course they don’t want to change it. Expect it to go up at the end of the year.
It should go down in election year
Nothing makes sense anymore
Love you people complaining about interest rates. Let me tell you about my Reagan era 13% mortgage.
People worried about interest rates at 7.17 %. We bought our house with a lucky 8.25 % and we barely made minimum wage. I was glad we could get that. BTW: 15 years later making, about 11 dollars an hour, I paid $4.35 a gallon for gasoline. We are doing better than most nations and I'm thankful. Just be calm, it will get better. Most of our problems are supply and demand some due to several weather conditions and major accidents delaying our supply lines.
That interest rate is ridiculous.
Borrowing money you don't have is also ridiculous.
In what way? It’s still a historically low rate.
@@SpoonHurler business simp
in '89 everyone praised me how the hell did I get such a low rate on 30 year mortgage of...9%. @'81 was 13%. Houses of couse a third price
@@MrJahkahistorically low? I bought my first house in 2015 and my interest rate was 3.25% lol
When Trump was in office, mortgage interest rates were
3%. 🇺🇲🇺🇲🇺🇲Trump 2024🇺🇲🇺🇲
Amennnnn
So? That wouldn’t change with him. More than likely it would get worse. WTH is wrong with your brain 🙄
When Trump was in office, we were on lockdown and thousands were dying daily.
Pandemic…not djt
Except he screwed covid so bad we've been trying to get back to where we were
" We did it Joe!! Now how bout a hug from Mamala...."
Trump:
- low inflation
- 0 wars
- secure border
- lower prices
Thanks
~Jim Eagle
Don't forget free hand outs
I miss the days of mean tweets and a booming economy.........
We all do, even those who won't admit so.
The economy wasn’t booming under Trump. The same trends have continued and wealth inequality has only gotten worse
Bravo, well said
@@52drawthe pandemic and the policy during is to blame largely.
@@52draw Sure it wasn't, which was why gas was a third what it currently is, I didn't need to take out a loan to buy a carton of eggs, and houses didn't require you to sell your soul to Blackrock to own.
I'll leave my current house unchanged as well then *dabs*.
This is what happens when you allow corporate greed go unchecked
RFK 2024, he's said he'll make APR 3%, and the middle class is his top priority.
June of 2020. We got ourselves in before it went up. 2.75 VA loan!!!! We would be fools to re-fi.
Need to raise it...but waiting is a good move
Good thing Ukraine got its billions. Good thing we're paying for 7.4 million migrants. It amazes me people still buy into the democratic party.
We didn't give Ukraine anything. We gave ourselves money on things that will help Ukraine and called it Ukraine aid. It amazes me how uninformed people are.
Either way the American people lose.@@AlexeiKremliovsky
They’re a bunch of democRat sheeples.
Sad thing is it
affects us all.
It amazes me that ukraine belongs to Russia and people are crying about Russia trying to reclaim their land. I'll be so happy when they do. 🇷🇺 @AlexeiKremliovsky
@@brandontruong9172 a narrow mind yet a bright imagination you have
This guy is incredible. He can read a promoter and the room at the same time.
Last 3 months, how about the last 3 years ? So disappointed 😢. All according to plan
More than 3%! Tell the truth please!
3%\quarter for 2 years is 24%.
@@SonnyBagodonuts-bd2vkit's 3.2% for the last 12 months.
In the UK, by comparison, is at 4.8%, the EU is 2.9%, and first world cities in Pacific Asia/Australia, it's 3.5%.
But, if you want to just speculate from your armchair, you're welcome to do that, too. Use your imagination, instead of real world data. Knock yourself out.
For reference, the president is not personally responsible for inflation. We had an oil shock, and international bottlenecks on raw goods and shipping. Plus we had oligopolies taking advantage of the climate to make easy money (ie, if your costs went up 5% raise your prices 10% and tell customers your costs went up, its easy money).
I mean, when it was Trump in office, inflation tripled in 2020 and blew up over 6%. The economy directly after Trump left office (before the Biden administration had time to enact any policies), it was still flying at 5.2% for those first six months. So why isn't Trump responsible for that? Why didn't he do anything to stop inflation when it was his watch? Why are other countries experiencing worse inflation than us?
What about the 2017 tax code? Wasnt that supposed to supercharge the economy? Taxpayers took on two trillion ina additional defecit spending to pay for those tax cuts. You tell me: do you think they're working? Weren't they supposed to just unlock the business world and shower money on all us? Why do you think that didn't pan out?
Don't get me wrong, my wife is an engineer, and I write software, the tax code has been very good to us. Our accountant found us a loophole so that we basically pay no income tax from the rent we collect on two investment properties. Plus, we got to write off the 2.5 wk vacation to Tokyo w the kids, which was nice since that ran a little under 20k. Plus, the changes in rules around our investments, we saved a ton of money on our nVidia stock gains. My employer used a provision in the tax code to buy top of the line furniture for us, so I sit in a $900 luxury chair when I go in 2x a week. So that's nice.
But average Americans saved less that $50 a year. And it cost 2 trillion. Did it help you?
Rates in 2019?
Idk but mine for 2020 was 3%
Mine is 2.5%
2.65 % for me
It’s the worst I have ever seen!
Are you 10 Years Old? My Parents had to have 20% down to buy a house or a VA or FHA Loan in the 70s. I had to pay over 8% in the 2000s.
@@BHShamanyour parents didn’t have to deal with the Din Doos looting the stores
You must be very young
1980's home loans were double digits. Cry harder.
@@joelyates2404cost of living was proportionately much cheaper
About time people started telling the truth
What is that interest rate has any effects on my local bank and loans
If you want rent to go down stop raising taxes and insurance rates. If my costs go up I'm raising rent. It's pretty simple.
Bro what insurance rates are determined by companies which use the interest rates. Taxes also go up because of inflation. It all comes back down to people overspending
Idc how they spin it.. everything from groceries, vehicles, homes an gas have doubled. That places inflation at 100%
81 million “votes” 😂
almost unbelievable.....
almost........
what about insurrectionist Trump?
I love how the Fed a privatized central banking system dictates our entire economy smh
Come on man! Bidenomics in action!
Abolish federal reserve
It is better to abolish the democratic party.😅
@@nathanaelsegura2535both parties are useless you damn sheep.
@@nathanaelsegura2535 both would be nice
STOP GOVERNMENT PRINTING AND DEMOCRATS SPENDING!!!!
People can't accept 0 percent rates as a thing of the past
🎉 yes, collecting those +5% yields
Hilarious so we haven't raised minimum wage yet the interest rate skyrocketing. So tell me again how it will make it worst?
“The economy is good…why can’t voters see that?” 🙄.
It’s more than just the stock market.
Biden has no control over the stock market lolololol, nor does trump
Make the interest rate predicable again
I'm so glad this comment section has a brain cell (sarcasm
Its pretty much too expensive to live in america rn. Something drastic has to be done
High interest rates prevent people from buying. That will somehow lower inflation.
Preventing the American economy from functioning for too long will cause recession or depression.
Supply&Demand. There's too much demand ( due to all that money printing a few years back ) And supply of goods/services can't keep up. So the limited supply goes up in price.
Either spending has to reduce so supply can stabilize. Or growth and production has to increase to meet or exceed demand.
But yeah. Slow down or stagnate the economy for too long. And it's like stalling an aircraft. You gotta keep some kind of momentum going in order to recover from it. And you have a limited window to do so.
Inflation reduction act clowns
You know what else is inflationary .!! Raising minimum wage and peoples salaries to cover for inflation ..!!
STOP BUYING! Prices or Rates will come down.
Mean while billionaire jeff bezos buying up properties.
Biden’s half way to Carter’s 14%.
He's likely over that if they didn't cook the books.
Wow its actually worse now. Congrats.
Stop ripping Americans off
I’m not sure how he can argue. The economy is strong, but at the same time say things like rent, and food cost are up. People are spending more not because they want to, but because things cost more.
The house I was born in was $100,000 30 years ago and was just a basic starter home. I am trying to purchase a home and start a family as a normal American should but how could I? I make good money and have multiple university degrees. The house I was born in is now over $800,000. Basic apartments in my area are over $600,000. I do not live in NYC or California but how could anybody possibly afford this? This is actually impossible to raise a family like this and so I won't. The collapsing birthrate will end social security and the older generation will be left in the dust as we have a new economic disaster worse than 2008 headed our way.
Needs to be higher
Its gonna take a little more time time most Americans dont have unfortunately smh
Every working American should go to their HR dept and file exempt for 3 months....
Dont forget 10% to the big guy
Can we drop them now...?
Means they are going to print more 😒
Awwww, too bad. I bought my house during Trump's Presidency. Thanks for that 2.72% rate, bud! Kick rocks, Democrats!
Times are different bu
Thanks Again, Joe!
your money, is illegal, for you to say its worth more, again.
Darn, that's stock market was zooming until this announcement
If I remember trump tank the stock market several times, with don’t know how but to bankrupt a system. , 1500 points in one day ,several times, where they closed the market, cleaned out many retirement accounts in the process……yes that’s the orange bomb, mister know how nothing.
Unbelievable. Interest rates will come down again but, we’re going to have to ride it out 😤
If the topics of massive illegal border immgration and useless spending in Ukraine aren't brought up in the same conversation as inflation, then they are actively trying to avoid 2 of the 3 major issues causing inflation.
Interest rates can help curb inflation, but not if we have millions coming into this country illegaly that are becoming tax burdens, where our government is literally paying for them to be here.
And we also are spending tens of billions on overseas problems like Ukraine that are also helping increase inflation.
Simply focusing on the interest rates is not going to stop inflation without also looking at the other two problems: illegal immigration/border control and governemnt overspending/useless spending.
INFLATION IS NOT THAT THINGS KEEP RISING IN PRICE. YOUR MONEY BECOMES MORE WORTHLESS EACH DAY
It’s not hard to understand why the economy is so bad for so many people. We’re pissed off because jobs do not pay what they used to. Even hi skilled jobs. I’m lucky enough to be in the trade so I’m getting paid about historical rates. But most people are getting paid 20 to 30% less than past generations for jobs that entail more productivity.
When was 5.5% considered high?
When a rent for a one bed apartment is $1800 a month.
when it was 2.5% under repub control of the WH
@@peraltaisrael2598 I was paying $1,600 for the same thing in 2016. I think it's really where you go
One side is printing out a lot of money. One side unchanges the high interest. 😂😂😂😂😂😂 It will destroy everything. Good job, Joe!!🎉🎉🎉🎉🎉
Thats because 4/16 is the real pi
On Jan 1 2026 rent will be double what you paid on Jan 1 2024.
No houses will be built thus there will be a steady supply of people willing to pay top dollar for rent
Why you ask? Because inflation isn’t going down
Thanks biden and the democrats,.
Yeah, Biden, thanks a lot! Thanks for screwingusover for the past 3 + years.
Trump covid checks money print brrr
AHHAHA, cry about it or learn how to make money during it. With your screenname, I'll bet you donate to trump
Corporations win every election
let's GO brandon....
We really need inflation to come down, adjusting interest rates is not enough. Purchasing power is disappearing, I keep getting big raises and inflation wipes it out immediately
So house cost 500k in 1 year you have another 35k to pay 🤔 sounds normal
It’s though that I can’t get a home but we can send 100 billion dollars to a county where I’ve never stepped foot on.
What country have we sent a $100 billion to, enlighten me please?
The war in Ukraine has had devastating consequences-creating a humanitarian crisis, threatening Ukraine’s democracy, and exacerbating global challenges, such as food insecurity. Congress has approved $113 billion in response to the Ukraine crisis. Agencies also used other funds to address the crisis. And btw they’re using your money as wells as your wife’s 🤷♂️
Ummmm whose wages are going up?!
The Fed has a mandate to keep inflation low and labor markets healthy.
Presidents have the ability to influence the Fed through their appointments, but that authority can be limited because of the checks and balances built into the central-bank system
Before placing blame, take the time to educate yourselves
Interest rates will come down and houses prices will keep going up 😂
Thats not a bad thing
It could always be worse
Well the fed missed a shot
It’s because they’re making more money off of us! Of course they’re not going to stop that. But yet we just keep letting him do it. 🤨
What strong economy
Its not going back to 4% or lower again. Get a real job real estate agents and builders.
Spoken like an elitist 😂 Trump 2024
Tf is that reporter looking at ☠️
😂😂 that's what happens when you try to figure out bidenomics
It’s not inflation…. It’s CEO/CORPORATE GREED…
Its both
We're still blaming Trump for this, right? 😂😂😂
The higher the better. It will pop the housing bubble and get things back to where they belong.
😂😂😂😂😂😂
Yeah Biden you’re doing such a great job I love paying more for something I paid less for 4yrs ago
2nd ammendment never sounded so good
look me in the eyes when you talk to me