The Federal Reserve boosted interest rates by 0.75 percentage points. The average 30-year mortgage stood at 5.23%. Higher interest rates have raised payments on medium-priced homes by over $600 a month. Average credit card interest rates have topped 20%. The Federal Reserve intends to raise rates again in July.
Catsimatidis said that raising the interest rates will wipe out the real estate industry and everything else in America! He explained that 70% of all transportation to grocery stores across the country are made by diesel trucks, the fuel price has doubled, and is going higher, which means that food prices will rise.
Authorities have stopped talking about the ‘programmability’ of CBDC that would allow the issuer to set limits and controls over its use. Any CBDC would give a third party like the state, the central bank or the corporation issuing the money as wages the power to control how and where the money is spent.
The Fed loaned $162.9 billion with 72% going to just six mutual fund families: Federated, JPMorgan, Morgan Stanley, UBS, Wells Fargo, and BlackRock. The Fed is supposed to be the lender of last resort to commercial banks in the US – not the lender of last resort to the trading houses on Wall Street.