Statement by Janet Yellen, February 24, 2015

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2 Responses to Statement by Janet Yellen, February 24, 2015

  1. Richard W. Walrath says:

    I can’t remember how long a go it was–two or more years–George Will was writing about raising interest rates. The Fed is going to have to raise interest rates some time, why not now? he wrote–two or more years ago. George Will is one of the many rich who want a place to park
    their money @ 5 or 6%, guaranteed by the government, requiring nothing from the individual
    except to be rich. Free tip: No increase in interest rates from the Fed this year!

    • Anyone that has transferred credit card debt from one company to another is going to get lambasted once the interest rates are increased, because with few exceptions new interest rates are “variable”. Let’s say you transfer your credit card debt from one card to another at a reduced rate of 1.99% for a period of 18 months; when that 18 months is up, your new interest rate is going to go up to whatever they indicated it would increase to, plus if there is a “V” next to the percentage it means that rate is variable depending upon the prime. So in addition to the rate automatically going up when the 18 months is over, the rate will automatically go up once the prime increases.

      I’m not sure you’re right about no increase this year – the pay rate increase Walmart is putting into effect April 1 is going to come into play and have a positive effect towards increasing rates. With any kind of luck, the GOP will do their thing and force people to lose jobs, which would have a negative effect – so I guess time will tell.

      You’re usually right about these things and I hope you’re right on this one!!!!! 🙂


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