The Latest Thing Millennials Have Killed: Federal Reserve Rates!

Kofi Gyebi
Founder, 400LB Elephant

Millennials are killing the federal reserve rates!

A New York Times reporter wrote an article titled “How Millennials Could Make the Fed’s Job Harder”. It was a passive aggressive attempt to discourage the FIRE (Financial Independence Retire Early) community. Working professionals taking control of their finances are now the killers of federal rates. Are blamed for inflation, and soon to be blamed for the downfall of the economy.

Things Millennials are responsible for killing or have ruined courtesy of Market Watch:

 

                                         The irony of things we millennials have ruined

Millennials Consuming less will lead to lower interest rates

The article highlights flaws in our capitalistic economy that demands aggressive spending.  Smialek notes, “To leave the workforce early, millennials would have to build up massive retirement funds and consume less in the process. The hit to demand could slow growth and force rates to drop ever lower to entire spending.” So tell me, NY Times – should I stop my financial progress to protect the Fed? The article is incredibly disturbing and upsetting – it trolls the idea of pursuing financial independence. Shame on you for consuming less, creating, generational wealth and controlling your future. Ugh.

My rebuttal

Ms. Smialek, I’ll raise you a different narrative. The Fed isn’t ensuring my financial stability at X corporation. I graduated on the tail end of the Great Recession.  I spent four years either underemployed, unemployed, depressed and doubting my decision to go to college.  My experiences are lead me down the path of FI.  Instead of putting 100% of my faith in companies that lay folks off as they see fit, I’m taking control of my future to ensure financial stability. I  am 100% present at work but I also see the need to save and invest to be in the most beneficial circumstance for my family. No one gave me a handout when I was down and out. Instead of lambasting a community that is choosing to pursue a lifestyle of their own, ask yourself: Do you plan to work 9-5 for forty years? Retire and choose what you want to do with 20 or 30 years. When you best and youngest days are behind you, was working for 40 years worth it? Could you have done things different? Try FI.

We hope you enjoyed The Latest Thing Millennials Have Killed: Federal Reserve Rates!

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