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Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

One Response to “Fed Official: It’s Time For Rates To Go Up”

1. willid3 Says:
   July 17th, 2011 at 11:04 am

   not sure when banks offered much if any interest on savings. i seem to recall a savings account i had in the 1990s. it was %2 then. thinking its all a misunderstanding of the banking business. it used to be the way banks made money was by loaning out money they had on deposit. the difference between the interest they charged borrowers and what they paid depositors was their profit. well they don’t do it that way any more. they make more money on fees and investments, than what they do on loans.