Willem's Planet

The central bank’s decision to hold interest rates at 4.25 percent to 4.5 percent extends a pause that has been in place since January, following a series of cuts in late 2024 that lowered borrowing costs by a percentage point.

When — and to some extent whether — the Fed ultimately follows through with cutting rates again this year remains dependent on Mr. Trump’s economic plans, including the sweeping tariffs he has threatened or imposed. ​ Wednesday’s meeting marked the central bank’s most direct acknowledgment to date that the president’s policies are set to have a real impact on the economy.

–Colby Smith reporting from Washington for the New York Times

So you’re going to pay more for your new home mortgage, you car loan, your student loan, your credit card loan, the eggs, the bread, the milk, whatever you buy at the grocery store. Oh! — and a lot more for just about everything else you buy. The United States has entered into a trade war with Canada, Mexico and China (see below what bankrate.com says).

A recession is coming, this year or next.
Has to, with all this going on, right? I hope I’m wrong.

Bankrate.com on Mar. 4:
Tariffs are a tax imposed on goods that the U.S. imports from other nations.
President Donald Trump’s 25 percent tariffs on imports from Mexico and Canada, initially announced in February but delayed for a month, took effect Tuesday, along with an additional 10 percent tariff on goods from China. (In February, a 10 percent tariff went into effect on all imports from China.)
Economists, supply chain analysts and tax experts interviewed by Bankrate said that consumers often end up bearing the burden of tariffs, as companies pass along higher production costs to consumers.