Thread

Fed hikes rates as inflation worries push up bond yields

184 points · 250 comments · wslh

dabinat · 1789588567 · focus · HN ↗
Prediction: this causes a recession in two years, right after a Democrat wins the White House, who will be blamed for it. The economy will turn around after a few years, just in time for a Republican to win and claim they fixed it.
This is how Republicans have a reputation for being economically savvy despite actual evidence to the contrary, because the general population doesn’t understand that economics runs on a time delay.
1. jameslk · 1789589453 · focus · HN ↗
  Both parties are responsible for the inflation and debt. Fiscal policy is largely driven by congress, not the president
  1. matteoraso · 1789590079 · focus · HN ↗
    And which party controls congress? I'll give you a hint: It's the party that spent decades advocating for irresponsible tax cuts without cutting spending[0].
    [0] Yes, I know that the Republicans said that they were going to cut spending to match the tax cuts, but that never ends up happening.
    DoesntMatter22 · 1789591267 · focus · HN ↗
    Partly it doesn't happen because you can't really get much done even if you have a majority. You really end up needing a super majority.
    The one thing both parties agree on though is running up a massive deficit
    disgruntledphd2 · 1789633233 · focus · HN ↗
    > You really end up needing a super majority.
    Assuming you're talking about the Senate filibuster, then this can be changed or removed by simple majority vote. It's not in the Constitution, just a rule that the Senate adopted.
    Like, personally I think that even sans filibuster, the Senate would move much slower than the House, because of election cycles.

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