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Fed Cut Won't Translate Into Much for Consumers ... Yet

Its plans to buy more debt may unfreeze market in '09, but consumer rates stuck for now

By Jim O'Neill, Newser User

Posted Dec 17, 2008 9:53 AM CST

(Newser) – Consumers hoping for lower interest rates on credit cards, car loans, and mortgages after the Federal Reserve dropped a key interest rate to near 0% yesterday aren’t likely to get a break soon, reports MarketWatch. But loans could be easier to get once the... Read full story »

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Fed Cut Won't Translate Into Much for Consumers ... Yet

Its plans to buy more debt may unfreeze market in '09, but consumer rates stuck for now

student loans • credit card • mortgage rates • interest rate • interest rate cut • consumer credit • financial crisis

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More Newser Stories

Credit Cards Cut Deadbeats More Slack

With unemployment rising, companies modify, reduce debt

Debt Settlers Promise Relief, Provide Little

Cash-strapped consumers claim companies charge fees without reducing debt

$173B Later, Taxpayers Still Can't Get a Loan

Consumer credit remains frozen, even at banks flush with bailout funds

Fed Cuts Rate to 0%-0.25%

Target is record low as Reserve battles recession

Record Low Rates Leave Investors Cold

Cut is likely tomorrow, but Wall Street wants more varied approach

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