Notas del episodio
In this episode, we break down the prime rate, the interest rate banks charge their most creditworthy customers. While it sounds like a term just for bankers, it directly affects the variable interest rates on your credit cards, home equity lines of credit, and adjustable-rate mortgages. Tune in to discover: * The Math: How the U.S. prime rate is typically set 3 percentage points above the federal funds rate. * The Media: How the Wall Street Journal decides when to update the published rate based on the activity of the top 10 U.S. banks. * Global Variations: A look at how rates differ internationally, from Canada’s 4.95% and Malaysia’s "Base Rate" system to extreme highs in Argentina and lows in Japan. Whether you are tracking student loans or watching the Fed, this epis ...