The Federal Reserve's pledge this week to hold firm on its prime lending rate of between zero and 0.25 percent is further evidence the economy continues to grow, albeit rather slowly.
Economic activity continues to grow but the tide won't turn until job creation picks up, according to Fed chairman Ben Bernanke. Tighter credit restrictions also could hamper a recovery.
The decision to hold firm on rates charged banks for money is good news for home and car buyers and students with long-term debts. The fed normally only gets involved in short-term rates but stepped up regulation after the financial meltdown.
The Federal Reserve began buying longer-term Treasuries to keep those rates lower than they would on the open market, The Associated Press reports.
Opinion
Record low loan rates
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Another Library Vote? Good grief!
Editor, The Transcript A new library on the west side? With hardly any books? With a dumb name above the entry as shown in your rendering? Infoplace? The library bureaucracy must think Norman voters just fell off the turnip truck....
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Show them some love
Oklahoma joins bus drivers and riders throughout the nation in the “Love the Bus” campaign to raise awareness and appreciation for the thousands of school bus drivers and aides who safely transport children to and from school each day....
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Eliminating state taxes places burden on poor
Editor, The Transcript: Your editorial on Feb. 8th that expressed your pleasure that the bill by Jim Wilson that would have removed the sales tax exemptions from newspapers was killed in committee was disconcerting. I can agree that the ...
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Not time to experiment with state taxes
Editor, The Transcript Governor Fallin proposed more cuts to the state income tax in her State of the State speech Feb. 6. This comes on the heels of a House Tax Reform Task Force that also proposed phasing out the state income tax over a ...
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Cuts in mental health short-sighted at best
When state budgets tightened up three legislative sessions ago, mental health and substance abuse treatment appropriations amounted to low-hanging fruit. It was easy for lawmakers to reduce treatment for mental health consumers and ...
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Local investment is better for Norman
Editor, The Transcript Americans from all walks of life and political ideologies are asserting their voice to tell Wall Street “Enough is enough!” Occupy Norman members spoke at the Dec. 13 Norman City Council meeting, urging the city to ...
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Decline in unions harmful to economy
Editor, The Transcript Remember sometimes you get what your ask for? Let’s see, what could that be? I know, destroy those evil unions which are compromised of the middle class....
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Tobacco ban comes as shock
Gov. Mary Fallin’s State of the State contained few surprises. The tobacco ban, however, came as a total shock to many legislators and state agency heads. “It was a surprise,” the governor told state press association members this week at ...
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‘Flavor of the month’
State Republicans have invited all of the GOP presidential candidates to Oklahoma. Former candidate Herman Cain came to Oklahoma City in early December, just days after he suspended his campaign. Rick Santorum brought his charged-up ...
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Gov. Fallin says tax cuts bring national attention
Rating agencies are often courted by state, county and local officials seeking better ratings and thus lower interest costs on long-term debt financed through bonds. Oklahoma’s governor and other officials called on various agencies this ...
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Another Library Vote? Good grief!
