Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Back to Financial News

Majority Of Americans Aren't Swayed By Fed's Promises To Keep Interest Rates Low

Monday, October 22, 2012 - 10:32 AM
Nearly three out of four Americans (74 percent) are not more inclined to borrow money despite the Federal Reserve's recent pledge to keep interest rates low until mid-2015, according to a new report by Bankrate.com.

Banker & Tradesman
4
ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,716
1. Monday, October 22, 2012 - 11:48 AM
I wonder how many of these types of research are thorughly validated by sophisticated technical means.  If not, they are simply generated for people that have nothing better to do (and are still on some payroll) and/or people with political/financial motives.
2
51hh51hh1,462 posts since
Jan 16, 2010
Rep Points: 6,352
2. Monday, October 22, 2012 - 12:13 PM
Aw come on Rhett, the article says that the survey was conducted by Princeton Survey Research Associates International.  Princeton is the home of the esteemed Economics Professor Paul Krugman.  How can you possibly think that there could be political motives?
4
StewieStewie56 posts since
Jan 18, 2010
Rep Points: 315
3. Monday, October 22, 2012 - 1:48 PM
You do have a point, Stewie.  But what statistical samples/population are they using?  What is the confidence level?  What is the time frame (most just started the refinancing last week)?  What is the ecology of the areas being surveyed?  Who are they doing that for?  To state bluntly that 3/4 of Amrican people aren't swayed is too bold/silly a statement to me regardless how accurate and how respectful this survey looks.

Being a statistician by profession and hobby, I do not trust any of those surveys, without a full set of supported technical data.

Maybe this one is more trustworthy than others (Princeton doesn't mean much to me -- by Rhett:D), but I was referring in general.
2
51hh51hh1,462 posts since
Jan 16, 2010
Rep Points: 6,352
4. Monday, October 22, 2012 - 2:12 PM
Not defending their methods, since I'm not a qualified "statistician", but here are some of the other clients of Princeton Data Source, LLC who collected the data for the report. You can also click on other aspects of their work including methodology and technology.

http://www.princetondatasource.com/clients.shtml
1
ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,716
5. Monday, October 22, 2012 - 2:23 PM
Where are all those people who are doing so well financially.  All I hear about are people losing jobs and being afraid to borrow these days.  Everything is upside down from what Bernanke intended to do or maybe this IS what he planned!

BTW, Shorebreak, I think you forgot to include your link with the info we can click on.  You know how much I enjoy misreading your articles. :)
1
paoli2paoli21,149 posts since
Aug 10, 2011
Rep Points: 5,128
Reply