OK, today’s post is all about interest rates. And we’ve started off with a cartoon because it only hurts when you breathe deep – or when you laugh. Here are a couple of softball questions to test your financial knowledge. Yeah, sure, you could probably Google the answers. But where’s the fun in that? Let me know in the comments section how you did. If you don’t, I’ll just have to assume you got them all wrong. And we wouldn’t want THAT, now would we?
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1. How many members currently serve on the Federal Reserve Board?
A. Five
B. Seven
C. 435
2. Of those, what fraction are women?
A. None
B. All
C. About half
3. Which of the following are NOT current members of The Fed?
A. Colin Powell
B. Janet Yellin
C. Alan Greenspan
4. As of 4/16/2024, the 30-year fixed mortgage interest rate was…?
A. Above 7%
B. Between 6% and 7%
C. Below 6%
5. The commonly used short-hand term for the Federal Reserve?
A. The Fed
B. The Sonsabitches
C. The Dallas Cowboy cheerleaders
6. Jerome Powell, current Fed Chair, was appointed by which POTUS?
A. Barack Obama
B. Donald Trump
C. Joe Biden
7. If interest rates remain high, who am I voting for in the fall?
A. Donald Trump
B. Joe Biden
C. Ralph Nader
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If nobody gets them all right, I will let you know and post correct answers in the comments tomorrow. Now, good luck y’all. And just to show I’m on your side, here are some free hints. Yer welcome.
1) 7 Members
2) Half are women
3) all three not current members
4) above 7%
5)The Fed
6) Donald Trump
7) Joe Biden (reluctantly)
Very good, grasshopper. Yes to all your answers except #7. You can sign me: “Unsafe at Any Speed.”
That picture of Robin Williams is as a Broncos cheerleader not the Cowboys.
I’ll tell you this much, Jeffrey S Peterson: If it would bring mortgage rates into the 5-6% range, I’d dress up as a cheerleader for any old team you’d care to choose.