Fed to keep rates exceptionally low through at least late 2014

Discussion in 'Politics' started by Valox, Jan 25, 2012.

  1. Valox
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    Valox Senior Member

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    To support a stronger economic recovery and to help ensure that inflation, over time, is at levels consistent with the dual mandate, the Committee expects to maintain a highly accommodative stance for monetary policy. In particular, the Committee decided today to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that economic conditions--including low rates of resource utilization and a subdued outlook for inflation over the medium run--are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014.
    FRB: Press Release--Federal Reserve issues FOMC statement--January 25, 2012

    Bernanke to America: Go borrow, borrow, borrow, and spend, spend, spend.
     
  2. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    Actually, the low rate is what the Federal Reserve gives to Banks that it loans to. Those Banks in turn loan us that same money at up to 30% interest.
    Have you looked at your Bank Credit Card rates lately? Or ever for that matter?

    See how that works? Check my sig line.
     

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