Prepare For Peso Plunge: Argentina Lifts Currency Controls
What Benefits To Savers? Banks Rush To Hike Prime Rate To 3.50%, Forget To Increase Deposit Rate
Someone forgot to give the banks the memo that the Fed's first rate hike since 2006 was supposed to, at least on paper, benefit the savers of America and not so much the, well, banks.. Because the ink hadn't even dried on the Fed's statement and one after another banks revealed that they would promptly boost their Prime lending rate from the current benchmark of 3.25% to the new Fed Funds-implied prime rate of 3.50%.
On The Important Role Of Recessions - Austrians Had It Right
Submitted by Lance Roberts via RealInvestmentAdvice.com,
My friend and colleague, Michael Lebowitz of 720 Global Research, recently penned a response to Larry Summers commentary on the economy’s weakened ability to withstand higher interest rates. To wit:
Sticker Shock: Fed to Hike Rates First Time in NINE Years!
Sticker Shock: Fed to Hike Rates First Time in NINE Years!
Courtesy of Phil’s Stock World
A rate hike – what’s that?
Fed's First Rate Hike In 9 Years Sparks "Goldilocks" Buying Of Risk Assets
What else is there to say...