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Customer Quote by Molly Ivins

“The Federal Reserve system obviously doesn't work anymore - they keep lowering the federal discount rate, and all that happens is that the banks are making a fortune, and the old folks' CDs are getting chewed up.” quote by Molly Ivins
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“The Federal Reserve system obviously doesn't work anymore - they keep lowering the federal discount rate, and all that happens is that the banks are making a fortune, and the old folks' CDs are getting chewed up.”

Molly Ivins

About This Quote

The Federal Reserve's policies are ineffective, benefiting banks while harming savers.

In simple terms: Reserve policies aid banks, hurt savers.

Key Takeaway

Critique monetary policy impacts.

Themes

economics policy inequality

Mood

critical analytical

Type

economic political

When to use this quote

  • investment advice
  • public policy debate
  • financial education

Key Concepts

monetary policy financial stability

Questions to Reflect On

  • What alternatives could protect savers?
  • How do banks profit from low rates?
A Different Perspective

Complex macro effects may be oversimplified.

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