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.”
About This Quote
The Federal Reserve's policies are ineffective, benefiting banks while harming savers.
In simple terms: Reserve policies aid banks, hurt savers.
Critique monetary policy impacts.
Themes
Mood
Type
When to use this quote
- investment advice
- public policy debate
- financial education
Key Concepts
Questions to Reflect On
- What alternatives could protect savers?
- How do banks profit from low rates?
Complex macro effects may be oversimplified.