The Fed is now in the business of mistreating true "conservatives" (again.)
It's hardly fair to seniors who need to get more than 3% on their bank CD's---that the Fed prints the darn money from thin air so they can loan it in at 1% to banks which will loan much of it out on credit cards from 10% to 30%.
Interest rates are already too low and have been for years. This has been much of the reason for boom/bust in housing and lending.
Even the stock market isn't excited about lower rates---because the market does not need them.
Kirk Shinkle is a senior editor at U.S. News. He writes daily about ups and downs in equity markets, sectors and stocks. Formerly, he covered business and economics on both coasts for Investor's Business Daily.
of @ Oct 29, 2008 17:08:30 PM
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