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In reply to the discussion: Chained CPI for SS = BAD. Fed Short Term Rates of 0% = GOOD. Can someone explain this to me? [View all]brentspeak
(18,290 posts)40. "the most needy seniors"
Considering that most seniors are needy to begin with, can we see your Third Way definition of the 'most needy'?
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Chained CPI for SS = BAD. Fed Short Term Rates of 0% = GOOD. Can someone explain this to me? [View all]
Yavin4
Dec 2012
OP
So seniors have an average of $300,000 in savings, but the typical senior has far, far less.
reformist2
Dec 2012
#26
Fed 0% interest rates are on money loaned to banks and large financial institutions.
Agnosticsherbet
Dec 2012
#8
What Banks offer as interest rates on savings and CDs is based on the Fed's Interest rates
Yavin4
Dec 2012
#16
Yes, voluntarily. If the Fed raised rates today every bank would simply cancel that policy.
cthulu2016
Dec 2012
#27
And so?....... This unusual answer doesn't exactly encourage the switch to a chained CPI.....nft
plethoro
Dec 2012
#22
That 0% rate is great if seniors were banks borrowing money from other banks
Kelvin Mace
Dec 2012
#14
Because of a concerted effort to screw the 99%, not *just* because of our current depression
MannyGoldstein
Dec 2012
#30
It's the same reason the Fed bails out banks with billions and not a penny more goes to poor people.
leveymg
Dec 2012
#29
You made a list of the DUers who welcomed the drop in interest rates 4 years ago?
muriel_volestrangler
Dec 2012
#44