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It’s good when the unemployment rate is low, right? Of course it is. The problem is that super-low unemployment often comes at the end of the good times, not the beginning.
In a bear market. people say what does that mean. the fed is looking at it used to be a quarter point. would it be a half point? some say .75. they do that to slow an overheating economy. what is that going to mean for average americans? >> i think what it's going to mean for average americans is that the economy is going to slow a lot more abruptly than we previously thought it was going to. and so if you are thinking about that from your typical household point of view, it means that money pretty quickly becomes a lot more expensive to borrow. we've seen mortgage prices move up a lot. it's h...
A little bit higher than i had previously thought. >> but you don't think this a report like this would change the fed's direction which would be at least two more interest rate hikes of a half point? >> absolutely. i mean, the fed is just getting to normal interest rates. it's not actually slamming on the brakes trying to wreck the economy. it's just getting us to a normal place, away from the emergency setting it was going to be on. so definitely those next two 50 basis points baked in the cake. and they need higher rates even if inflation comes down on its own, they need higher rates to loc...
>> bill: you thought your investments were safe yesterday, a huge run-up. this is the open today. so you are up 3 percentage points on wednesday and you are down 1 percent within a minute on thursday morning. fed raised interest rates a half point. haven't seen it in 22 years of that magnitude and size. we'll see how investors digest this news. we're off and running on another black diamond on wall street. >> tell me how this ends. >> only with victory. we have no way out. >> dana: president zell striking a defiant tone in an
Seen in four decades, joining sus a professor of economics in public policy at the university of michigan, always good to have you on. if the fed moves interest rates up a half point as expected. how are every day americans going to feel this? >> well, i this i this note if, it's a dead certainty it's just about to happen and they're spell-checking the pre release right now. what it means depends on where you are in your life cycle. if you are about to buy a house, it means mortgage rates be go up. it will be tougher to put groceries on the table. on the flipside, it will cool the housing mark...