The Fed’s Giving Out 0% Interest Loans… Just Not To You!

Image credit: Nick Youngson / Alpha Stock Images, CC-BY-SA 3.0 license. (source)

On January 20 the Federal Reserve voted unanimously to keep the federal benchmark target interest rate in a range of 0% to 0.25%, where it’s been since March.

So who gets this lucky rate? Me? You?

Wouldn’t you like to take a 0% loan to pay off that credit card debt that’s been accumulating interest at 22%? Couldn’t you use one to repair the roof? Pay off that parent loan you took for your kids’ college with a 7% rate? Maybe pay off your student loans?

Sorry. Low rates are just for capitalists.

Can we imagine if a similar loan policy were applied to the working class, instead of just the owning class?