IMAGINE THAT!

I'm watching the Sunday news programs - ON Sunday! How did that happen??  Boredom ... not much happening today.

And oh the things I've heard so far ... if you can, make sure to catch the 12pmET/1pmCT/3pmPT replay of Fox News Sunday on the Fox News Channel -- it's a hoot!

But this is NOT about that .... but it's good ....

Anyhow -- right now I'm watching Face the Nation (CBS) .. and they have on Trump's financial advisor from when he was in the White House ....

And this guys says even though the Federal Reserve is going to cut interest rates, they likely will not effect MORTGAGES nor CREDIT CARDS for quite some time .... if at all

Wait - what???

I asked my husband - he's the financial "wizard" of the household ... and he said that there is nothing forcing banks to pass on either hikes or cuts to the people!

This means, if you have been holding off on buying a house hoping for the rates to come down - you may just have whistle Dixie first ....

(gotta look up the history of that saying "whistling Dixie")

I found it more interesting that with the election a little over a month away (little over 50 days) that they started talking about cutting those rates again ....

Of course - the JOBS numbers have been updated the last few months - DOWNward, so fewer jobs were created than origianlly reported ...

And now, UNEMPLOYMENT has gone back up as well .... over 4% ...
That means, if you get 100 people togeher 4-5 of them will be unemployeed .... I'm going to guess it's way higher than that, hough.

Unemployment numbers are based on how many people actually apply for unemployment .... and keep doing so during their entire time.

So - the "interest rate" we hear about ("Prime") is actually the amount that the Reserve charges banks when the Reserve lends money to the banks .... in general, the banks pass this interest along to people who borrow money from the banks .... and yes, credit card money come from a bank of some sort ... even the store based ones - that's why you will see and APR of 14%+Prime .... 

Don't let them fool you - they make bundles on those credit cards ....