Fed Raises Interest Rates by 0.50%, Largest Move Since 2000

Automatic TRANSCRIPT

Okay, turning to this market right now. Absolutely slammed as investors have a chance to digest the news of the Federal Reserve raising rates. Now, in Wednesday's session, when they got the news, of course, of the half point rate hike, they figured, okay, you know, we can handle this. He did say, after all, Jerome Powell said, I'm not looking at a 75 basis point hike. I'm just looking at 50 basis points. For the foreseeable future and they rejoiced on that was a little bit of a relief rally. You know, everybody's like, okay, well, now we have some predictability. They did exactly what we thought they were going to do. And they're not going to raise at least not so far as we know by 75 basis points. So that's what happened on Wednesday. And then all of a sudden, investors had a chance to really think through everything that's going on, which is what I keep saying, and you can't continue to have such exceptional earnings for so many of these companies when the fed is pulling, pulling back, right? When you're not buying up mortgage backed securities, you're not buying treasuries to the extent that they were when you're not leaving rates so low money becomes more expensive and when money becomes more expensive, there's less of it to go around. It has more value, right? That's how you cut down on the inflation, but there's less of it out there. And when there's less of it to go around, it does increase in value, but you are going to see a pullback most likely in spending. That's if they get this

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