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Thread: Fed Reduces Interest Rate
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Old 09-21-2024, 12:00 PM
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Originally Posted by jimjamuser View Post
It reduces the RATE of increase. Over time the cost of everything (goods and labor) goes up. When I got out of high school, I bought a nicely running used car for $60. That is about what you would pay today for a used bicycle. I believe that over time the price inflation averages out to around 3% per year. Each year the price of anything goes up about 3%.
........Think of it this way, in 1950 a penny was a USEFUL currency, not TODAY.
Think of it this way, when you got out of high school there was a correlation between wages and costs. That has been totally skewed in the year 2024.