…even Hot Air was more sedate in its title*. For those who are wondering, while grilling Fed Reserve Chair Ben Bernanke Rep. Waters confused the discount rate with the fed funds rate. And if you didn’t know what that means, either – well, Fox Business took the time to explain it:
The discount rate is what the central bank charges banks to borrow from the Fed at the “discount window.” The fed funds rate is what banks charge each other for overnight loans.
The former is apparently sufficiently small that the bank being charged it would find that passing the cost along is more hassle than it would be to just eat it. Or so I’m gathering: I’m an expert on snark, not monetary policy. That’s why I’m a blogger, and not a member of the House Financial Services Committee.
Share on Facebook 1 1 SHARES Trump had a rough debate performance by any standard last night. Today, he made the rounds of the Sunday shows and had a series of yet more embarrassing interviews. Watch him backtrack, lie about what he said, and go full 9/11 truther. Take a look: Denver to Host 2016 RedState Gathering…click here for more information and to Register | Read More »
Share on Facebook 1 1 SHARES Really Dems? From the “Keep it Classy” file we discover Democrats felt last night was the perfect time to do some fundraising. They could have gone after one of our candidates on a policy point or some area where they felt particularly aggrieved but no – The Weekly Standard shows how they decided to fundraise off the death of a | Read More »