Fed Raises Interest Rates, Will Wall Street Panic?
RUSH: Uh oh. Uh, uh, oh. The Federal Reserve just announced that they're going to raise interest rates a quarter of a point. That is going to panic Wall Street. Wall Street has been living with free money for so many years. They have been worried. If you know where to read, if you know where to look, you can sense that they felt this was coming for a couple of years now and they are scared to death of it. The fact that the interest rate increase has been announced now, keep a sharp eye on money people, 'cause for many of them they interpret this as the end of their run. It's gonna raise mortgages. Mortgage rates are gonna go up. Every other kind of loan is gonna go up.
But of course not to worry my friends, our booming economy will be able to absorb this and any other tinkering the Fed decides to engage in. And they are saying that this could be just the first of many subsequent interest rate increases. Many economists -- quote, unquote, experts -- think the Federal Reserve will raise rates at least three or four times next year. Interest rates of zero is artificial anyway, but it has been a boon, it's been beneficial to a whole lot of people. And now it's just gonna make money more expensive, and the people that deal in money are gonna panic, and you just keep a sharp eye. I hope there's not a whole lot of overreaction.
Right now the Dow Jones Industrial Average, it was up over 200 earlier, it's 148 up now, so there's not really a mad-dash panic in that regard. I hope there isn't. I hope people don't overreact to this. Wall Street has been the beneficiary of a bunch of printing of money for a number of years now called quantitative easing. And that, coupled with -- in fact, there's even negative zero interest rates, in some cases.
http://hosted.ap.org/dynamic/stories/U/US_FEDERAL_RESERVE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2015-12-16-14-01-26
RUSH: Uh oh. Uh, uh, oh. The Federal Reserve just announced that they're going to raise interest rates a quarter of a point. That is going to panic Wall Street. Wall Street has been living with free money for so many years. They have been worried. If you know where to read, if you know where to look, you can sense that they felt this was coming for a couple of years now and they are scared to death of it. The fact that the interest rate increase has been announced now, keep a sharp eye on money people, 'cause for many of them they interpret this as the end of their run. It's gonna raise mortgages. Mortgage rates are gonna go up. Every other kind of loan is gonna go up.
But of course not to worry my friends, our booming economy will be able to absorb this and any other tinkering the Fed decides to engage in. And they are saying that this could be just the first of many subsequent interest rate increases. Many economists -- quote, unquote, experts -- think the Federal Reserve will raise rates at least three or four times next year. Interest rates of zero is artificial anyway, but it has been a boon, it's been beneficial to a whole lot of people. And now it's just gonna make money more expensive, and the people that deal in money are gonna panic, and you just keep a sharp eye. I hope there's not a whole lot of overreaction.
Right now the Dow Jones Industrial Average, it was up over 200 earlier, it's 148 up now, so there's not really a mad-dash panic in that regard. I hope there isn't. I hope people don't overreact to this. Wall Street has been the beneficiary of a bunch of printing of money for a number of years now called quantitative easing. And that, coupled with -- in fact, there's even negative zero interest rates, in some cases.
http://hosted.ap.org/dynamic/stories/U/US_FEDERAL_RESERVE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2015-12-16-14-01-26