Saturday, November 7, 2009
Now you see it, now you don't.
The Fed. has held the short term interest rate at close to zero. We say "Wow! The good ol' Fed. taking good care of us!" NO. The Doser points out that the low rate of interest is the rate by which big banks borrow money from the Fed. They are still charging us ruinous rates of interest using their almost free money.