Fed Rate Cut Is Great...If You're In Debt
Tuesday, March 18 A move by the Fed to again lower interest rates is welcome news on Wall Street, understandably so. However, the reductions primarily reward those with debt since credit card, mortgages and other consumer loans will now be more attractive.
However, money markets and other interest-bearing accounts will also have their rates of return cut.
Is penalizing savers and rewarding debtors really the best tonic for our economic condition? I doubt it.

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