The rate has been cut again. A 0.5% cut. It is now 1.5%. Using the Rule of 72, it will take 48 years at that rate to double an investment! I certainly won't live long enough to see that.
According to some talking heads, the Fed is doing just the opposite of what was done in the 1930s as we entered the Great Depression. They are loosening money. We are in a recession and it may last years but $ will be cheap.
Once again, these economics are above my head. We will tighten our belts and spend less. This won't help the economy but will help us pay for groceries and gas and electricity - the necessities. It will help us stretch our savings as it's obvious we won't be growing our savings.
'til later
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