Interest rate cuts are not the answer for everybody either. Such cuts hurt seniors who depend on interest income to augment their social security. And there are a lot of seniors out there, including me, who will not look kindly on having their income reduced through no fault of their own. In fact, if it were not for people who have scrupulously saved money, and banked it over the years, there would be less money to be loaned out to prospective home buyers.
See post # 62.
We had our rate hikes last year, 17 in all. Rate cuts will follow and it will be the answer. The fed has made it clear that it will do everything in its power to prevent a financial crisis, and that will include rate cuts. You can't always just hike rates. You have to cut when necessary. It may be bad short term for those who live on interest, but it is the reality of our economy.
Well I am not a senior but 30 something going close to 40. Let me be frank on my opinion and state that the American majority is going to suffer at this point for the decisions of the minority (it’s a big minority).
However you feel I can relate to it, considering I am likely paying your Social Security and Medicaid benefits that will not be available to me or my family when I am your age.
We all take the good with the bad and unfortunately, the next 3-4 years are likely to be ugly economically.