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28 minutes ago, TitanDuckFan said:

Wrong.

Clinton kept them between 8 and 9% for most of his tenure.

Bush inherited between 8.5 and 9% in 2001.

But to stave off the recession after 9/11 he had them cut to 4% in '03.  They eventually returned to a peak of 8.25% under Bush.

 

At the close of 2016 they were still at 3.75%.

The Trump economy has never had a prime that low.  He inherited 4% and it's now at 5.5%

 

https://www.jpmorganchase.com/corporate/About-JPMC/historical-prime-rate.htm

 

http://www.fedprimerate.com/wall_street_journal_prime_rate_history.htm

 

Currently:

https://www.bankrate.com/rates/interest-rates/wall-street-prime-rate.aspx

 

 

 

 

6983F066-354D-497F-A07D-30ECF96CB91C.gif

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7 hours ago, IsntLifeFunny said:

And just as a fourth and finale fuck off I was talking about the fund rate, not the prime rate. 

https://www.thebalance.com/fed-funds-rate-history-highs-lows-3306135

 

2003: GDP = 2.9%, Unemployment = 6%, Inflation = 1.9%

Jun 25   1.00%JGTRRA tax cuts enacted.

 

2004: GDP = 3.8%, Unemployment = 6%, Inflation = 3.3%

Jun 30  1.25%  Low rates pushed interest-only loans. .

Aug 10  1.5%  Helped cause Subprime Mortgage Crisis

Sep 21  1.75%^

Nov 10  2.0%^

Dec 14  2.25%^

 

Trump inherited rates in the obama cellar @ 1% and it's gone up from there to its current rate of 2.25%, so things are pretty much the same, not half.

 

2017: GDP = 2.2%, Unemployment = 4.1%, Inflation = 2.1%

Mar 16  1.0%Fed was steady on its path of normalizing its benchmark rate.

Jun 15  1.25%^

Dec 14  1.5%^

 

Fed Chair Jerome Powell (Since February 2018)

2018: GDP = 2.95, Unemployment = 3.9%, Inflation = 1.9%

Mar 22  1.75%  Fed projects steady growth.

Jun 14  2.0%^

Sep 27  2.25%^

Dec 19  2.5%   Fed stopped raising rates in 2019. 

 

Now, was the average Fund Rate higher under Bush?  Yes it was, but that's not what you said dumbass.

And it was averaged over 8 years, not 2.

The rate now is certainly not half of the lowest it ever was under Bush.  You're peddling bullshit.

IOW,... You're wrong again.

 

Laugh all you want at your error.

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42 minutes ago, IsntLifeFunny said:

Holy shit you’re stupid as fuck. 

 

33 minutes ago, IsntLifeFunny said:

The average under Bush was right around 3.3%. The average under Trump is about 1.5%. 

Holy fuck, but you're apparently too stupid to understand averages.

Trump has had 2-1/2 years after inheriting 1% from the obama years and an economy that never managed to reach much beyond 2% GDP.

Add-in massive stimulus and quantitative easing that took place under obama, just to keep the economy afloat.

It's done nothing but rise steadily since Trump took office in '17.

 

Bush had eight years inheriting rates established under clinton, and it was a roller coaster ride influenced by recession, wars, 9/11 and an overheated housing market.

Context matters.  When calculating averages it matters even more.

 

Go back to your Trump ranting. 

You're better at that.

Edited by TitanDuckFan

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7 minutes ago, IsntLifeFunny said:

🙄 interest rates are still at historic lows dum dum. 

No, historic lows would be those during the obama years.  Essentially zero.

 

Somebody had to keep the economy propped up.

That was the easiest and most expedient.

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