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US Federal Reserve just slashed interest rates to 0%
- Thread starter Deleted member 431
- Start date
this is like when the hot water starts running out in the shower so you say fuck it and just throw the tap all the way hot
but with capital circulation instead water
but with capital circulation instead water
Oh boy, now you have nothing left but to go negative if a recession hits. Saving accounts are now completely worthless and if they go negative rates, you will be losing money.
interest rate of what. I assume loans to banks, not impacting any citizens
edit: or.. interest rates of individual accounts and loans, which would be interesting
edit: or.. interest rates of individual accounts and loans, which would be interesting
Trump strongly believes* that low interest rates are a magical panacea for the entire economy and has been pressuring and threatening Powell to lower them from the moment he started- while there may be a rationale for it in this emergency — the long term effects are the same as putting the recession in a swollen tin can on a hot summer day and kicking it down the road into direct sunlight.
* he's so stupid and ignorant and narcissistic that the line between genuinely believes, selfishly insists and has no clue what he's talking about is completely irrelevant.
The fiscal stimulus wouldn't help at the moment. It makes sense to have a stimulus once infections spiked and slow down but now neither a rate cut nor a stimulus won't help now.
What does that mean that savings accounts are worthless? My wife and I have like 15 grand in savings for a house down payment.
I truely believe we're on track for negative interest rates soon. That'll be a trip
This is bad if you have a lot of cash sitting in a bank account
Nothing confirm the bank will follow suit. Here in UK bank actually increase their rate to gain more money. Especially when most of new buyer will go for fixed rate.
Banks are not going to give you interest on any accounts for the foreseeable future.
The last random Hugh half-point cut didn't do anything in the last weeks, what makes them think this will do any better? It screams of lacking confidence in the markets.
This isn't good. Might be good if you want to refinance your house