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The Federal Reserve has lowered interest rates in September – just as podcaster and TeamDML.com founder Dennis Michael Lynch predicted they would.
From the Wall Street Journal: The Federal Reserve voted to lower interest rates by a half percentage point, opting for a bolder start in making its first reduction since 2020. The long-anticipated pivot followed an all-out fight against inflation the central bank launched two years ago.
Eleven of 12 Fed voters backed the cut, which will bring the benchmark federal-funds rate to a range between 4.75% and 5%. Quarterly projections released Wednesday showed a narrow majority of officials penciled in cuts that would lower rates by at least a quarter point each at meetings in November and December.
Fed Chair Jerome Powell’s decision to trim rates by a larger amount than most analysts anticipated until just a few days ago moved the central bank unwaveringly into a new phase of its inflation battle: It is now trying to prevent past rate increases, which last year took borrowing costs to a two-decade high, from further weakening the U.S. labor market.
“The committee has gained greater confidence that inflation is moving sustainably toward 2%, and judges that the risks to achieving its employment and inflation goals are roughly in balance,” the Fed said in its policy statement Wednesday. The rate cut reflected both “the progress on inflation and the balance of risks.”
Breaking: The Federal Reserve cut rates by a half point, choosing the more-aggressive option for its first cut in four years https://t.co/AlBSzRotvO https://t.co/AlBSzRotvO
— The Wall Street Journal (@WSJ) September 18, 2024
In his podcast on July 26, Dennis Michael Lynch told his listeners this was going to happen.
DML predicted four steps that Democrats will take to suddenly put more money in people’s pockets just before the election, in their efforts to ensure a Kamala Harris victory.
- Your gas prices are going to go down, down, down… right between August and November.
- The Fed will come out in September and lower interest rates.
- The stock market will suddenly surge in September and October.
- The food supply will suddenly be ‘plentiful,’ thus reducing food prices.
WATCH DML’s prediction below! Start at the 7-minute mark:
Below is video coverage of Federal Reserve Chair Jerome Powell’s announcement on Wednesday, Sept. 18.
The Dennis Michael Lynch Podcast archive is available below, with the most recent on top. Never miss an episode. Subscribe to the show by downloading The DML News App or go to Apple Podcasts.
