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Gilt Trip with Cathie Wood
FYI - For Your Innovation
The Fed Funds Rate Is a 13-Fold Increase, Not a Two Fold Increase.
Volcker took interest rates from 10% to 20%. Now by the time he did that, consumers and businesses had gotten used to maneuvering around inflation. Today we've gone from 0.25% on the Fed funds rate to 3.25, which is a 13 fold increase,. That's the whole point. It's a low base, 13 times. So if they raise the Fed funds Rate and other 75 basis points, this will be a 16 fold increase compared to Volcker's two fold increase.
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