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Inflation is plaguing consumer markets, putting pressure on the Federal Reserve to raise interest rates to tighten the money supply. But as Rex Nutting writes in a MarketWatch column titled “Why Interest Rates Aren’t Really the Right Tool to Control Inflation”: It may be heresy to those who think the Fed is all-powerful, but the honest answer
Worrisome. >> they should let the market set interest rates. they could have their own rates they want to charge banks if you come to the discount window but quite another one to set price controls so the fed should back off from that. the markets did not selloff because the federal reserve but the fed signaled lately these rates are going up so the market you this month before. neil: why did they sell up? >> trade. neil: michael, that has come up and we got information out of china and companies exposed to china, auto companies, chief among them even some of the tech companies and they will g...
To be holding these loans at such a high interest rate. >> another move from the president last july, we were about to see the interest rate on many federal loans double from 3.4% to 6.8%. president obama brokered an agreement to tie the interest rate to treasury bonds but those are variable and can go up to 10.5%. some have complained about that. do you think that was helpful? >> i voted against that bill because i didn't think it was the right result. i think you should let people refinance at today's going rates and give all of those holders of debt to have a chance, to have a lower rate th...
Inheriting much greater risk in our financial services industries. i think we will in ten year's time look back and say we should not have done that. >> i would say that's right on the money. it's clear this country is in need of immediate action in financial reform. david stockman, budget director under president reagan joins us tonight on "the ed show." great to have you with us. lots of talk about tonight. first of all, buzz dorgan right? >> absolutely. repeal was an epic mistake. it failed to realize that banks are wards of the state heavily subsidized by the government with the insurance,...
Investment in our big banks, lend them money at a little tiny interest rate, can't we do the same thing for our young people trying to get an education? that's all i'm looking for. >> here's the devil's advocate response i thought of, right. are you beginning a slippery slope, setting a precedent, if you open up the fed discount window to students, we just did a story last night about a municipality in michigan saginaw shutting down the school because the credit line from the state has been cut off, i thought they should be getting the fed discount window, too, you start thinking of all the pe...