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real: The Fed lending rate reduction only helps the Banks. - 01/23/08 12:29 PM
Please wait while I set my soap box down. I am about to give my opinion on this disgusting turn of events by our government.
The Fed lending rate cut, for the most part,  bails out the Banks.
The short term Fed rate is the rate Banks can barrow from the Fed resulting in them making more money.  As a general rule they do not reduce the rate they are charging the consumer resulting in more interest spread or profit.  If their money costs less they make more money.  If the bond market becomes nervous about inflation mortgage interest rates on loans could actually increase … (0 comments)

 

Max Schmidt

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