Loading ...The Fed announced Wednesday that it will let a small portion of its $4.5 trillion balance sheet mature without being replaced, starting in October with reductions of $10 billion a month and gradually rising over the next year to $50 billion a month.
The Fed has felt confident to raise rates because it appears to have met one of its key mandates: Maximizing employment. The unemployment rate is just 4.4 percent, near a 16-year low.
http://www.chicagotribune.com/business/ct-federal-reserve-meeting-20170920-story.html
Comment: There are 1000 BILLION in one Trillion. $4.5 Trillion is THOUSANDS of billions. Dropping $10 bil/mo to $50 bil/mo is a total joke. Like pissing on a forest fire.
Besides that, 4.4% unemployed is meaningless if the average tax payer wages nationally have not kept up with inflation. That’s the WHOLE reason nobody had any savings built up for a home loan down payment.