Newbie investor. From what I understand, the recent plunge was driven by the economy being better than expected (low unemployment, higher than anticipated wages). This has caused fears that banks will increase interest rates, causing a large stock selloff. How accurate is this? And if so, why are banks allowed to do this? To someone outside of the financial/political sector, this seems like something where financial regulation should come into play and Congress (who bailed the banks out in 2008) should be able to step in and prevent banks from raising interest rates in the interest of the general population and overall economic growth. Can someone who is in the know provide a better explanation of this situation than mine, which is essentially just greedy bankers?
Submitted February 08, 2018 at 11:53AM by NicolasCage4eva http://ift.tt/2nTR0yx
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