Community Chat

[happycat]

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@Kachina624 wrote:

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

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

[Laura14]

@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.

[happycat]

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@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.

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Ok, thank you. 

[gidgetgh]

Futures are down 1,000 points. 

[Snowpuppy]

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@gidgetgh wrote:

Futures are down 1,000 points. 

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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.

[judy0330]

@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.