The Fed cut the discount rate today by partly a point. Does that parsimonious prime is in a minute down to 7.75% from 8.25%.?
What is prime at as of 8/17/07?
Answers:
No. They cut the discount rate. This is the rate they lend money to prefered bank not the prime rate.
the discount rate and the prime rate are not indistinguishable -- they did not cut the prime rate-- still should be 8.25%!
It have nought to do beside the prime rate.
:)
Prime usually follows the Fed Funds rate, which the Fed have control over through the money supply. They didn't cut the Fed Funds rate, they cut the Discount Rate. Fed Funds rate is what bank charge respectively other to loan respectively other reserves, the Discount Rate is what the Fed charges. Even next to the cut, the Fed discount rate is still 0.5% above the Fed Funds target. So no, the prime rate did not trip up...still at 8.25%. If they cut the Fed Funds rate, next the Prime rate will topple.
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Answers:
No. They cut the discount rate. This is the rate they lend money to prefered bank not the prime rate.
the discount rate and the prime rate are not indistinguishable -- they did not cut the prime rate-- still should be 8.25%!
It have nought to do beside the prime rate.
:)
Prime usually follows the Fed Funds rate, which the Fed have control over through the money supply. They didn't cut the Fed Funds rate, they cut the Discount Rate. Fed Funds rate is what bank charge respectively other to loan respectively other reserves, the Discount Rate is what the Fed charges. Even next to the cut, the Fed discount rate is still 0.5% above the Fed Funds target. So no, the prime rate did not trip up...still at 8.25%. If they cut the Fed Funds rate, next the Prime rate will topple.