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Esteemed Contributor
patbz
Posts: 6,266
Registered: ‎03-10-2010

Fed just slashed interest rates to 0%

‎03-15-2020 05:11 PM

Trying to save our economy, interest rates just slashed to 0%.  Wonder what that does to savings and bond rates?

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Valued Contributor
Highlands72
Posts: 767
Registered: ‎06-04-2016

Re: Fed just slashed interest rates to 0%

‎03-15-2020 06:47 PM

Feel bad for retired persons. No return on savings, 401K tanking, and in highest risk category for virus.

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Honored Contributor
gidgetgh
Posts: 13,590
Registered: ‎03-09-2010

Re: Fed just slashed interest rates to 0%

‎03-15-2020 06:48 PM

Futures are down over 1,000 points. 


Why is it, when I have a 50/50 guess at something, I'm always 100% wrong?
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Honored Contributor
suzyQ3
Posts: 21,733
Registered: ‎03-09-2010

Re: Fed just slashed interest rates to 0%

‎03-15-2020 06:55 PM

That's getting into dangerous territory.


~Who in the world am I? Ah, that's the great puzzle~ Lewis Carroll, Alice in Wonderland
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Honored Contributor
shoekitty
Posts: 14,818
Registered: ‎03-10-2010

Re: Fed just slashed interest rates to 0%

[ Edited ]

‎03-15-2020 07:45 PM - edited ‎03-15-2020 09:04 PM

There goes quite a bit of monthly income.  

0 % is only good if you spend, not if you save.  

“sometimes you have to bite your upper lip and put sunglasses on”….Bob Dylan
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Honored Contributor
shoekitty
Posts: 14,818
Registered: ‎03-10-2010

Re: Fed just slashed interest rates to 0%

‎03-15-2020 09:09 PM

@Highlands72 wrote:

Feel bad for retired persons. No return on savings, 401K tanking, and in highest risk category for virus.

Shoekitty said. Thank you, it is bad blow for sure.  They reduced my SS 200, my husband 400 due to error that is not an error but their mistake.  Will take months to clear.  Then our retirement income was slashed a couple thousand a month, the list goes on.  What a mess.  This 0 interest is no good all at once.    It is relief for borrowers in some. Catagorys, but loss on the other side evens it all out.

“sometimes you have to bite your upper lip and put sunglasses on”….Bob Dylan
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Honored Contributor
SharkE
Posts: 39,133
Registered: ‎08-19-2010

Re: Fed just slashed interest rates to 0%

‎03-15-2020 09:14 PM

This too will pass.

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Honored Contributor
shoekitty
Posts: 14,818
Registered: ‎03-10-2010

Re: Fed just slashed interest rates to 0%

‎03-15-2020 09:17 PM

@SharkE wrote:

This too will pass.

Shoekitty said, thankfully it WILL pass.  It will

“sometimes you have to bite your upper lip and put sunglasses on”….Bob Dylan
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Honored Contributor
tansy
Posts: 16,832
Registered: ‎01-02-2011

Re: Fed just slashed interest rates to 0%

‎03-15-2020 09:24 PM

Someone finally got what he's been agitating for.  I can't see how it will help me.

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Esteemed Contributor
patbz
Posts: 6,266
Registered: ‎03-10-2010

Re: Fed just slashed interest rates to 0%

‎03-15-2020 09:41 PM

@tansy :  Not designed to help you and me; only the 1% (probably will help one family's bottom line).

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