Anyone who's ever listened to Stephanie Ruhle's commentary on either NBC Nightly News or her failing daytime show on MSNBC will realize she is extremely partisan and very dumb when it comes to basic economics. She proved this once again during a segment on Wednesday night's NBC Nightly News when she made the preposterous claim that when the Federal Reserve raises interest rates, it means "the economy is doing well."
During a segment on the announcement from the Federal Reserve that the central bank will keep interest rates close to zero and begin raise rates in March, anchor Lester Holt brought in the NBC business correspondent to explain to viewers what to expect when interest rates are eventually inched up over the course of the year.
Holt asked Ruhle what does "this expected move by the Fed mean to all of us?" Ruhle answered that "when the Federal Reserve raises interest rates, that is a signal that the economy is doing well." She then got into specifics on what the immediate effect will be on consumers when interest rates are increased by the Federal Reserve:
However, in the short term, higher rates means it will be more expensive to get a mortgage, a car loan, and the interest rate on our credit cards, well, that's going to go up too. So before that happens, if you can, now is the time to start paying off your debts, refinance your mortgage, and make that big purchase if you're planning to take out a loan.
When asked for clarification by Holt whether she believes higher interest rates "aren't necessarily bad", Ruhle replied "that's absolutely true. Now finally we're gonna earn a little bit more on our savings." Adding: "if the Fed succeeds, prices will stop going up so quickly, and that is something, Lester, all of us want."
What Ruhle doesn't understand is the economy isn't doing well. Inflation is at a forty-year high which is exactly why the Federal Reserve is raising interest rates in the first place.
We shouldn't be surprised by Ruhle's ignorance, she has a long history of making ridiculous comments on economics. Earlier this month, she claimed it was a sign of economic strength that millions of Americans left the labor force. On November 14 2021, on Sunday Today Ruhle made the elitist claim that people can afford inflation. Finally, back in July, she made the outrageous claim that if you can't pay your workers more, you aren't a legitimate business.
This incredibly elitist segment was made possible by Febreze, Tylenol, and Geico. Their contact information is linked so you can let them know about the biased news they fund.
To read the transcript of this segment click "expand":
NBC Nightly News
1/26/2022
7:17:18 PMLESTER HOLT: Stephanie Ruhle joins us now. Stephanie, what is this expected move by the Fed mean to all of us?
STEPHANIE RUHLE: Lester, when the Federal Reserve raises interest rates, that is a signal that the economy is doing well. However, in the short term, higher rates means it will be more expensive to get a mortgage, a car loan, and the interest rate on our credit cards, well, that's going to go up too. So before that happens, if you can, now is the time to start paying off your debts, refinance your mortgage, and make that big purchase if you're planning to take out a loan.
HOLT: So Stephanie, higher interest rates aren't necessarily bad?
RUHLE: That's absolutely true. Now finally we're gonna earn a little bit more on our savings. And even more importantly, if the Fed succeeds, prices will stop going up so quickly, and that is something, Lester, all of us want.
HOLT: All right. Stephanie Ruhle, thank you.
