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
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