Sound Off: Why are interest rates so low and how long will they stay this way?
Dec. 21, 2020
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Q: Why are interest rates so low and how long will they stay this way?
A: The Federal Reserve lowers interest rates in order to stimulate growth during a period of economic decline and uncertainty, which means that borrowing costs become cheaper.
Low interest rates are good for homeowners as it reduces their monthly mortgage payments. The interest rates are so low largely because the economy is so weak.
Interest rates are likely to stay low for years as the economy fights its way back from the coronavirus pandemic, according to Federal Reserve Chairman Jerome Powell. He was quoted as saying “We think that the economy’s going to need low interest rates, which support economic activity for an extended period of time it will be measured in years. However long it takes, we’re going to be there we’re not going to prematurely withdraw the support that we think the
Three months after
Richard M. Nixon became the first president to resign his office, Democrats netted 49 new House seats in the November 1974 congressional elections, a tidal wave that opened the way for a burst of post-Watergate reforms.
New limits on campaign contributions, the Ethics in Government Act, the Presidential Records Act, the creation of a legal framework for special prosecutors all these and more burst out of Congress between 1974 and 1978. Not all those laws succeeded, but many of their provisions continue to set limits on elected officials more than four decades later.
Democrats and some former Republicans hoped for a similarly sweeping election victory this year, believing that