sabbadoo32

Non-Farm Payrolls: Enough for a Fed Rate Cut?

Dropping rates within the next 75 days won't do a thing. As we all know credit is too tight. Banks don't trust each other, much less the average person on the street. In Chicago, banks are requiring 12-15% down on people with 700 credit scores for car loans. AND that's only if they're not purchasing an SUV.

So lower rates may be a good thing. But it's a wasted effort until someone wants to loan money again.