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Comment by choeger | Hacker News Reader

>There’s no recession as far as the eye can see.

Back your pardon? The Fed is expected to raise the interest rate by 0.75% in September, IIRC. If that's not a recession on the horizon, then what is?

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They might actually do so this week if the news is to be believed

https://www.cnbc.com/2022/06/13/markets-are-now-bracing-for-...

https://www.cnbc.com/2022/06/13/fed-reportedly-may-hike-rate...

edit to add second non-paywalled link

I was about to say that waiting till September might be not ideal when it comes to battling inflation.

We would still be below 2%. Interest Rate in the United States averaged 5.44 percent from 1971 until 2022.

Still waiting for the banks to raise my saving's interest rate to 70's level. ½ percent doesn't cut it.

Buy I Bonds. 9.62% https://www.treasurydirect.gov/indiv/research/indepth/ibonds...

Limited to 10k/year

$15k; you can buy $5k with your tax return. $30k if you've a spouse.

Ha ha, what tax return? Thanks, though. Setting up an account today.

If you want, you can overpay taxes by $5k to get a refund to put into I Bonds.

Unfortunately limited to $10k per year, but at that rate everyone should be buying up to the limit.

They raised interest rates several times over the last year. Of course from any point in time a recession is “on the horizon,” but this is not the cut and dry predictor you’re making it out to be.

Two straight quarters of declining GDP. Merely raising interest rates to a sane figure (still below 3%!) isn't recession-causing in any sane economy.

Is there a "recession" in the rest of the tech industry? I took that to be the point of the person you are replying to.

Yes? Many stocks are down >50% and companies are announcing hiring freezes

How is that a recession?

Yeah, It is not exclusive to crypto is it? We've already seen that even Tesla and Netflix announced layoffs. So, there's that.

Raising rates has a lagging effect. That results in the economy won’t be felt until next year.

One of the benefits of crypto was supposed to be that it was uncorrelated to the market, etc.

“Money” shouldn’t change in value so quickly.

> One of the benefits of crypto was supposed to be that it was uncorrelated to the market, etc.

Crypto may or may not have its own issues, but all assets tend to suffer 'correlation breakdown' during market volatility.

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