Federal Reserve raises rates by 0.75%

> oil companies are "dragging their feet".

That is what you requested and that is what I provided. There are other articles if you would like to research them yourself.

The full quote is "“Whether it’s $150 oil, $200 oil, or $100 oil, we’re not going to change our growth plans,’’ Pioneer Chief Executive Officer Scott Sheffield said during a Bloomberg Television interview. “If the president wants us to grow, I just don’t think the industry can grow anyway.’’"

>Now that I've addressed your article, would you like to address the above administration policy decision I linked?

"Federal land accounts for about 24 percent of oil and gas production in the United States, mainly in the offshore Gulf of Mexico. But since companies with existing leases will not be affected, the near-term impact on exploration and production as well as royalties to states will be limited. With more than 26 million onshore acres and 12 million offshore acres already under lease, there is a deep inventory of exploration opportunities. "

No, it should either be 0.75% or 75 basis points

Yes - the caveat here is that if the raise is due to inflation then your real post-tax salary can go down.

(i.e. For an absurd example - suppose inflation is 100%. Last year you made 50K, this year you make 100K, which is the same in real terms (after inflation)). However, you will pay more of that 100K in tax than you would have last year, so your real income will decrease.

This tax drag can also happen for investments. If your investment goes up 100% and inflation is also 100%, you pay tax on the inflated nominal value of your investment even though the real value has not changed. Long term capital gains taxes are one way to reduce the impact of this - but they don't eliminate it altogether.

Tax brackets are usually (but not always) inflation-indexed to avoid this effect.

Savings are low. We have supply issues -- just not enough stuff, including food, even if you had all the money in the world.

It is a joke now that people complained about babyfood and government said it will give money; only to get a reply of: no there just isn't any baby food delivered.

Increasing rates will likely have the opposite result. The goal of the Fed is to break the backs of people with low means. I am not sure why I should applaud that instead of the government doing its job and taking steps and establish agreements to stabilize supply of oil and food. Generally establish "world peace for trade" again.

P.S. Yes I know there is a war out there but right now U.S. oil companies are simply not improving supply to even pre pandemic levels.

P.S.2 We opened the economy too early, and by we I mean the government. You need to have the resources to run the economy. We did not.

There is a counter view that the US economy experienced a variation of dutch disease by being the world's reserve currency. In this view, being the world's reserve currency forced the US to "export" dollars and "import" goods. Making goods manufactured from USD jurisdictions irrationally non-competitive.

The reason "dutch disease" is a problem for resource producing countries is that manufacturing productivity growth is much stronger compared to commodity production. It's better to be a manufacturing powerhouse than it is to be a commodity powerhouse.

It's entirely plausible that services are the same way, it's better to make things for other people than to do things for other people.