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Politics : Formerly About Advanced Micro Devices

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FJB

To: RMF who wrote (903497)

11/28/2015 11:11:58 AM

From: Brumar89

1 Recommendation Read Replies (2) of 1576346

The prime rate governs interest rates that affect ordinary borrowers. As opposed to banks loaning overnight deposits to one another. Interest rates tend to move together and I've already established that you were WRONG to say that the big increase in rates occurred after Reagan took office. They were already high.

Here's the history of the Fed Funds rate in 1980 & 1981 - as you can see that rate was raised to the 20% level four times in the 1980 and 1980 period:

useconomy.about.com
1980: JanMarJunSepDecDec 291981: JanAprMayDec

14%	Increased rapidly during month.
20%	Raised rates in February and March.
8.5%	Lowered to 9.5% in May and 8.5% in June.
12%	Rates raised to 10% in August and 12% in September
20%	Raised steadily until mid December.
18%	Lowered two points.
20%	President Reagan took office. Volcker raised rates again.
16%	Lowered 4 points.
20%	Raised 4 points.
12%	Lowered 8 points.

I'm learning to not accept any assertion from you as factual.

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