Wall street is trying to get Powell's attention to give them 50bp instead of 25 (at the September meeting).
That said, because of his dilly-dallying and messing around too long with the 5.25-5.5% rate, we might have deflation soonish.
New credit cards come with 21.49% interest now (minimal), so people just cannot afford to have a balance anymore, hence they buy LESS.
I am not advocating having a cc balance, but most people have it.
In the nearly 30 years I've had a CC, I've never had to pay a single cent on interest. I just use it as a tool to pay online, in shops, etc. (together with a Debit Card), and I make sure I zero my balance on time.
Years ago, I remember a nice lady in the bank told me that I'm a "bad customer"...
Fugg them!
