Truckers to Fed: Keep interest rates at historically low levels

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Should the Federal Reserve raise short-term interest rates?

With the Federal Reserve board of governors contemplating a rise in short-term interest rates (at historically low levels to stimulate the economy now for years) and having recently suggested some rise was inevitable this year, a majority of truckers surveyed in this hot buttons poll favored no change.

The rates that the Fed controls are applicable directly to bank-to-bank short-term lending rates, but the rises and falls in the target rate set by the fed tends to have indirect effects on the cost of borrowing as well as returns on savings, both of which rise with the Fed-set rate.

Poll results suggest strongly that the majority believes economic conditions are such that ease of access to borrowed money is a more important overall consideration than improved yields on savings.

What’s your view?

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