You are totally wrong. Carter was President when the prime rate topped out in Dec. 1980. Yes, rates continued high for several years, but the decline began then.
fedprimerate.com
| May 13, 1977 | 6.50 | | May 31, 1977 | 6.75 | | August 22, 1977 | 7.00 | | September 16, 1977 | 7.25 | | October 7, 1977 | 7.50 | | October 24, 1977 | 7.75 | | January 10, 1978 | 8.00 | | May 5, 1978 | 8.25 | | May 26, 1978 | 8.50 | | June 16, 1978 | 8.75 | | July 30, 1978 | 9.00 | | August 31, 1978 | 9.25 | | September 15, 1978 | 9.50 | | September 28, 1978 | 9.75 | | October 13, 1978 | 10.00 | | October 27, 1978 | 10.25 | | November 1, 1978 | 10.50 | | November 6, 1978 | 10.75 | | November 17, 1978 | 11.00 | | November 24, 1978 | 11.50 | | December 26, 1978 | 11.75 | | June 19, 1979 | 11.50 | | July 27, 1979 | 11.75 | | August 16, 1979 | 12.00 | | August 28, 1979 | 12.25 | | September 7, 1979 | 12.75 | | September 14, 1979 | 13.00 | | September 21, 1979 | 13.25 | | September 28, 1979 | 13.50 | | October 9, 1979 | 14.00 | | October 23, 1979 | 15.00 | | November 1, 1979 | 15.25 | | November 9, 1979 | 15.50 | | November 16, 1979 | 14.75 | | November 30, 1979 | 15.50 | | December 7, 1979 | 15.25 | | February 19, 1980 | 15.75 | | February 22, 1980 | 16.50 | | February 29, 1980 | 16.75 | | March 4, 1980 | 17.25 | | March 7, 1980 | 17.75 | | March 14, 1980 | 18.50 | | March 19, 1980 | 19.00 | | March 28, 1980 | 19.50 | | April 2, 1980 | 20.00 | | April 18, 1980 | 19.50 | | May 1, 1980 | 18.50 | | May 7, 1980 | 17.50 | | May 16, 1980 | 16.50 | | May 23, 1980 | 14.50 | | May 30, 1980 | 14.00 | | June 6, 1980 | 13.00 | | June 13, 1980 | 12.50 | | June 17, 1980 | 12.00 | | July 7, 1980 | 11.50 | | July 25, 1980 | 11.00 | | August 22, 1980 | 11.25 | | August 27, 1980 | 11.50 | | September 8, 1980 | 12.00 | | September 12, 1980 | 12.25 | | September 19, 1980 | 12.50 | | September 26, 1980 | 13.00 | | October 1, 1980 | 13.50 | | October 17, 1980 | 14.00 | | October 29, 1980 | 14.50 | | November 6, 1980 | 15.50 | | November 17, 1980 | 16.25 | | November 21, 1980 | 17.00 | | November 26, 1980 | 17.75 | | December 2, 1980 | 18.50 | | December 5, 1980 | 19.00 | | December 10, 1980 | 20.00 | | December 16, 1980 | 21.00 | | December 19, 1980 | 21.50 (U.S. Prime Rate record high) ( BACK TO TOP | CURRENT PRIME RATE)
| | January 2, 1981 | 20.50 | | January 9, 1981 | 20.00 | | February 3, 1981 | 19.50 | | February 23, 1981 | 19.00 | | March 10, 1981 | 18.00 | | March 17, 1981 | 17.50 | | April 2, 1981 | 17.00 | | April 24, 1981 | 17.50 | | April 30, 1981 | 18.00 | | May 4, 1981 | 19.00 | | May 11, 1981 | 19.50 | | May 19, 1981 | 20.00 | | May 22, 1981 | 20.50 | | June 3, 1981 | 20.00 | | July 8, 1981 | 20.50 | | September 15, 1981 | 19.50 | | October 5, 1981 | 19.00 | | October 13, 1981 | 18.00 | | November 3, 1981 | 17.50 | | November 9, 1981 | 17.00 | | November 16, 1981 | 16.50 | | November 24, 1981 | 16.00 | | December 3, 1981 | 15.75 | | February 8, 1982 | 16.50 | | February 18, 1982 | 17.00 | | February 23, 1982 | 16.50 | | July 20, 1982 | 16.00 | | July 29, 1982 | 15.50 | | August 2, 1982 | 15.00 | | August 16, 1982 | 14.50 | | August 18, 1982 | 14.00 | | September 3, 1982 | 13.50 | | October 7, 1982 | 13.00 | | October 13, 1982 | 12.00 | | November 22, 1982 | 11.50 | | January 11, 1983 | 11.00 | | February 21, 1983 | 10.50 | | August 8, 1983 | 11.00 | | March 19, 1984 | 11.50 | | April 5, 1984 | 12.00 | | May 8, 1984 | 12.50 | | June 26, 1984 | 13.00 | | September 27, 1984 | 12.75 | | October 16, 1984 | 12.50 | | October 24, 1984 | 12.00 | | November 8, 1984 | 11.75 | | November 28, 1984 | 11.25 | | December 19, 1984 | 10.75 | | January 15, 1985 | 10.50 | | May 20, 1985 | 10.00 | | June 18, 1985 | 9.50 | | March 7, 1986 | 9.00 | | April 21, 1986 | 8.50 | | July 11, 1986 | 8.00 | | August 26, 1986 | 7.50 | | April 1, 1987 | 7.75 | | May 1, 1987 | 8.00 | | May 15, 1987 | 8.25 | | September 4, 1987 | 8.75 | | October 7, 1987 | 9.25 | | October 22, 1987 | 9.00 | | November 5, 1987 | 8.75 | | February 2, 1988 | 8.50 | | May 11, 1988 | 9.00 | | July 14, 1988 | 9.50 | | August 11, 1988 | 10.00 | | November 28, 1988 | 10.50 | | February 10, 1989 | 11.00 |
Also: infoplease.com Money Market Interest Rates and Mortgage Rates, 1980–2002Below find money market interest and mortgage rates for 1980 through 2002.
Type1980198519901995200020012002|
| Federal funds, effective rate | 13.35% | 8.10% | 8.10% | 5.83% | 6.24% | 3.88% | 1.67% | | Prime rate charged by banks | 15.26 | 9.93 | 10.01 | 8.83 | 9.23 | 6.91 | 4.67 | | Discount rate1 | 11.77 | 7.69 | 6.98 | 5.21 | 5.73 | 3.40 | 1.17 | | Eurodollar deposits, 3-month | 14.00 | 8.27 | 8.16 | 5.93 | 6.45 | 3.70 | 1.73 | | Large negotiable CDs: | | | | | | | | | 3-month, secondary market | 13.07 | 8.05 | 8.15 | 5.92 | 6.35 | 3.71 | 1.73 | | 6-month, secondary market | 12.94 | 8.24 | 8.17 | 5.98 | 6.46 | 3.66 | 1.81 | | Taxable money market funds2 | 12.68 | 7.71 | 7.82 | 5.48 | 5.89 | 3.67 | 1.29 |
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