What makes the Fed Chairman believe that a rate cut will have such economic impact that the Lener's will be more free with lending. Rather I think the converse is true. The Fed hasnt made an interest rate cut in four years. Lenders are not in touble because they didnt have money to loan; they are in trouble for trying to artifically boost profits at the expense of the Middle Class. If you give money to a homeless man, assume that you will not get the money back. In essences that is what happened.
Lets not forget the banks still have money, they are simply keeping it all for themselves.
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