The Fed "Rate Hike" is a Total Fraud, Subsidy To Banks and Divorced From Market

``... instead of banks paying each other the higher rate of interest after a rate hike, now it's the Fed, which means it's really me and you, since the Fed gets money by taking value from the rest of us. At the new, higher rate, this is about $10.5 billion per year that is nothing but a gift to banks. And don't expect your deposit rate to move higher anytime soon.''