Dr. Jeff
Dr. Jeff Ross

As anticipated, the 50 bps drop of the federal funds rate yesterday has resulted in a drop of the Prime Rate from 8.5% to 8.0%.
Short-term borrowers (those with HELOCs, credit card debt, etc.) should soon see some much-needed relief via lower rates in the coming days/weeks.
https://m.primal.net/KvAJ.png

2024-09-19 18:30:31

- reply

My Damus client is unresponsive, so I can't zap anyone at the moment.
Primal desktop works well for most things, but I can't currently zap while using it.

2024-09-19 18:20:36

- reply

Thanks for the recs.
I already tried logging out of Damus, with no change when I logged back in.
If @npub1xts…kk5s or someone else from @npub18m7…q955 isn't able to help, I'll probably try Nostur.
Cheers.

2024-09-19 18:04:29

- reply

One of the reasons I came to #nostr was to escape Twitter Creed enthusiasts.

2024-09-19 18:03:49

Using @npub12vk…pugg, I swapped out my old "recommended" relays for the following relays, and have already noticed a better experience.
Thanks @npub1utx…50e8!
However, my phone's @npub18m7…q955 client is now unresponsive. The new clients are not shown on Damus, and when I try to add them, it won't allow me to do so.
Any thoughts @npub1xts…kk5s?
Without my Damus client, I have lost the ability to zap as well.
#note1qpy…pds6

2024-09-19 12:28:25

Doom and gloomers still calling for an imminent major #recession in the US this morning.
Doom and gloomers still wrong.
#Normalization, not #recession.

2024-09-19 11:42:58

- reply

Great post, Jeff! ⚡️

2024-09-19 11:13:11

- reply

Great chart! 🤝

2024-09-18 22:42:27

- reply

Please do.

2024-09-18 22:41:30

- reply

I hope so.

2024-09-18 22:41:12

- reply

Lol... probably.

2024-09-18 22:38:21

I hate to be that guy... but I feel compelled to post that we are at (or very near) the point of saying goodbye to #58kforever forever.

2024-09-18 21:28:31

- reply

Yes. #Normalization, not #recession.

2024-09-18 19:42:52

Incoming: Standing overnight reverse repurchase agreement operations offering rate of 4.8%.
Down from 5.3%, previously. Which has been the standing rate since August 2023.
Short term (~1-3 months) T-bill yields will quickly reflect this new rate.
#note19th…pzpz

2024-09-18 18:13:28

Prime rate is derived from the federal funds rate, which was lowered today from 5.25-5.5% to 4.75-5.0%.
HELOCs and other short term lending rates are based, in part, off of the prime rate.
Hopefully, many Americans who are getting beaten down by such high interest rates will feel some relief in the coming months... in the form of lower interest rate payments.

2024-09-18 18:04:40

- reply

No.
50 bps is a pretty typical first move and it's as the markets *expected*

2024-09-18 18:02:09

BREAKING: 50 bps it is.
"In light of the progress on inflation and the balance of risks, the Committee decided to lower the target range for the federal funds rate by 1/2 percentage point to 4-3/4 to 5 percent."
#note1hd9…ly3y

2024-09-18 17:32:17

- reply

Yes.

2024-09-18 15:53:15

- reply

I like the TA of $MSTR here... and like $CLSK even better for the short-to-mid term.