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  • Bring Credit Card Interest Rates Down To Stimulate The Economy

    From Intelligent Party@21:1/5 to All on Thu Oct 1 11:15:56 2020
    XPost: fl.politics, houston.politics, tx.politics
    XPost: az.politics, alt.abortion

    Bring credit card interest rates down to stimulate the economy...

    Make the max credit card interest rate "Prime + 5% "

    This would presently be 3% (Prime) + 5% = 8%

    The Prime rate presently is 5%, which equals the Federal Funds rate + 3%

    The Federal Funds rate presently is 0%

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Intelligent Party@21:1/5 to Intelligent Party on Thu Oct 1 14:04:59 2020
    XPost: fl.politics, houston.politics, tx.politics
    XPost: az.politics, alt.abortion

    On 10/1/2020 11:15 AM, Intelligent Party wrote:
    Bring credit card interest rates down to stimulate the economy...

    Make the max credit card interest rate "Prime + 5% "

    This would presently be 3% (Prime) + 5% = 8%

    The Prime rate presently is 5%, which equals the Federal Funds rate + 3%


    Should say:
    "The Prime rate presently is 3%, which equals the Federal Funds rate + 3%."


    Yet Prime is 3.25%: https://institute.jpmorganchase.com/about/our-business/historical-prime-rate

    The Federal Funds rate presently is 0%

    And the Federal Funds is 0%-.25%: https://apps.newyorkfed.org/markets/autorates/fed%20funds

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)