topic Re: Federal Reserve in Community Chat

Federal Reserve

Kachina624 — Sun, 15 Mar 2020 21:21:01 GMT

Just cut the prime rate to 0% to stimulate the economy during this period of crisis.

Re: Federal Reserve

gidgetgh — Sun, 15 Mar 2020 21:22:52 GMT

The cut a week or so ago didn't go over too well. It will be interesting to see how the stock market reacts to this cut.

Re: Federal Reserve

Porcelain — Sun, 15 Mar 2020 21:31:57 GMT

We aren't even at the crisis part yet.

Re: Federal Reserve

Laura14 — Sun, 15 Mar 2020 21:25:42 GMT

I didn't think I could earn less than the 30 cents I got all of last year for my savings account.

Re: Federal Reserve

geezerette — Sun, 15 Mar 2020 21:29:22 GMT

@Laura14 wrote:
I didn't think I could earn less than the 30 cents I got all of last year for my savings account.

@Laura14

Wait until you have to pay the bank to keep your money.

Re: Federal Reserve

Laura14 — Sun, 15 Mar 2020 21:30:18 GMT

@geezerette I was just thinking that's next! Sizing up the mattress as I type...

Re: Federal Reserve

QueenDanceALot — Sun, 15 Mar 2020 21:38:59 GMT

@Porcelain wrote:
We aren't even at the crisis part yet.

@Porcelain

We can always cut the interest rate to below zero.

P.S. it's already better than Chrismas!!

Re: Federal Reserve

RoughDraft — Sun, 15 Mar 2020 21:38:59 GMT

Where's my Xanax?

Re: Federal Reserve

QueenDanceALot — Sun, 15 Mar 2020 21:39:43 GMT

@RoughDraft wrote:
Where's my Xanax?

@RoughDraft

It will be in your Easter basket.

Re: Federal Reserve

RoughDraft — Sun, 15 Mar 2020 21:41:04 GMT

@QueenDanceALot wrote:
@RoughDraft wrote:
Where's my Xanax?
@RoughDraft

It will be in your Easter basket.

@QueenDanceALot If the Easter bunny doesn't get to it first.

Re: Federal Reserve

happycat — Sun, 15 Mar 2020 21:57:28 GMT

@Kachina624 wrote:
Just cut the prime rate to 0% to stimulate the economy during this period of crisis.

How will this affect interest rates? Will they go down much?

Re: Federal Reserve

Laura14 — Sun, 15 Mar 2020 22:01:20 GMT

@happycat They really can't fall off the floor. The prime is what the banks borrow money at. Interest rates are usually a hair above that for what the banks charge us so they should also dip.

Re: Federal Reserve

happycat — Sun, 15 Mar 2020 22:01:01 GMT

@Laura14 wrote:
@happycat They really can't fall off the floor. The prime is what the banks borrow money at. Interest rates are usually a hair above that or what the banks charge us so they should also dip.

Ok, thank you.

Re: Federal Reserve

gidgetgh — Sun, 15 Mar 2020 22:32:07 GMT

Futures are down 1,000 points.

Re: Federal Reserve

Snowpuppy — Sun, 15 Mar 2020 22:45:40 GMT

@gidgetgh wrote:
Futures are down 1,000 points.

And that's only pre market. It's gonna be an ugly week.

Keep an eye on bonds. Much better barometer than the market. Lots of selling there as well as PM's as some are going to all cash.

Re: Federal Reserve

judy0330 — Mon, 16 Mar 2020 01:14:28 GMT

@gidgetgh Exactly -- they are limit down. I have been reading for months that if the Fed kept lowering -- there would be nothing to do if a real crisis developed. Here we are.