FED left rates unchanged

[Zoe]

To make it a profitable business, we had about 2000 chickens. Took me a long time to want to eat another egg or chicken leg.
On the other hand, we made lots of angel-food cakes (takes 12 eggwhites), and we could have had lots of custard, but my grandma didn't like custard, so she made other stuff. But the angle food cakes were out of this world.

When my wife was growing up, all they had for breakfast was cereal when she was real young. Her daddy had heart problems and her mother wanted to help him ( he out lived her).

None the less, my wife don't ever want cereal again.

She loves chicken and eggs though.

She likes turkey sausage. (all sausage and bacon).

 

[Zoe]

Hey, I had digital coupon yesterday at Kroger for $1.99 for 18 large eggs. I bought 2 cartons. Eggs will last like 3 weeks after the expiration date on the carton if they are kept refrigerated.

Aldi usually has the cheapest eggs locally and they were currently $2.99 for a dozen. $1.99 18 eggs, $2.99 12 eggs. ????

Real hard choice.

 

[Zoe]

Back on topic, think of every business or homeowner that borrows money on short term interest rate. 1/2 percent drop for them was big drop. Some may float with fed funds rate. Some may have 3 month, 6 month, 9 month, 12 month lock on rate. The ones on like floating rate with fed funds rate got a booster immediately.

Many builders of new construction may be on floating rate.

Some loans that were on even a 12 month interest rate lock are probably maturing today. So they can negotiate rate again.

My point is the 1/2 point drop in fed funds rate has huge impact on people that borrow money on a short term basis.

Their overhead went down immediately.

 

[Joe Flacco]

Is it going to punch through higher or is it going back down?