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A comment on Mortgage Rates Jump Above 6%, Putting Pressure on Housing Market. Parent comment

Re:Mortgage Rates Jump Above 6%, Putting Pressure on Housing... by anm89 on Thursday September 15, 2022 @12:41PM (#32854651)
I don't philosophically disagree with you, but I think it's worth pointing out, that if we just woke up tomorrow and the Fed announced it was immediately letting the market set rates, it would be so bad (the resulting global market implosion) that it would be a humanitarian crisis IMO. I literally, non hyperbolicly believe that
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Re:Mortgage Rates Jump Above 6%, Putting Pressure on Housing... by prottog on Thursday September 15, 2022 @12:58PM (#32854982)
I agree with you, and it really is too bad that the Fed dug itself so deep -- there is and always will be another crisis that requires unprecedented Fed intervention.

Historical evidence points to innumerable recessions and bank failures even after the advent of the Fed, so it's unclear if they add value above and beyond what the market setting rates would do, but I don't believe that I'll ever get to find out in person.

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