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The Ramsey Show Highlights

Why The Fed Lowering Rates Before the Election is "Sus"

The Ramsey Show Highlights

Ramsey Network

Investing, Self-improvement, Education, Business

4.5840 Ratings

🗓️ 19 September 2024

⏱️ 6 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

Brought to you by the Every Dollar app. Start budgeting for free today. We just got word a few moments ago.

0:08.4

Surprise, surprise, 45 days from the election, the Fed dropped the interest rate.

0:15.1

By half a point, 50 basis points to a range of 4.75% to 5%.

0:19.7

So that wasn't possible four months ago or eight months ago, but right before the election, it's possible.

0:25.6

It's amazing the timing of that.

0:27.6

That's just suss. Yeah.

0:29.6

Good Gen Z working.

0:30.6

I'm using a good millennial word here.

0:32.6

I'm impressed.

0:33.6

I learned that from George. He taught it to me.

0:36.6

So, yeah. I mean, come on, people. Can you not look at this and go, are you, is America that, are you folks in America that stupid that you don't look at this and go, well, that's suspicious timing, boys and girls?

0:52.8

Within spinning distance of the election. And all of a sudden they go, all right, pull the lever.

0:56.4

As if it's going to change anything between down the election.

0:58.8

It's not, by the way.

1:00.6

But it sure is good PR because one of the things that the current administration is getting hammered on is the state of the economy.

1:09.7

It's really hard to keep a party in office, Republican or Democrat, when the economics are bad during the presidential election year.

1:19.0

And so right up on it, there it is, just drop.

1:21.5

Best part is whoever takes office will then take credit for all of this.

1:24.3

And here's what's interesting.

1:26.4

Mortgage interest rates are the lowest they

1:29.1

have been since February of 23, about 20 months ago. In the last almost two years, we have the

1:39.0

lowest mortgage interest rates. Very quietly, they're down. And the market has not taken off and boomed. The real

...

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