XPost: alt.politics.congress, alt.politics.usa.constitution, alt.politics.obama XPost: alt.politics.libertarian, alt.activism.d

On 10/1/2020 11:17 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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