Mary: This is Mary Walden with economist MW, welcoming you to the economic perspective. Today’s program looks at some good news. Mike, the recent news has been gloomy, as the country and world is contending with the coronavirus. But amid all the concerns and worries, is there anything that is positive?
Mike: Summary Answer
- Economically speaking, there is in two areas – interest rates and gas prices
- Interest rates have been plunging to record low levels
- Result of slowing demand for borrowing
- But also result of investors buying safer interest-earning financial assets, like CDs and bonds
- So if you are a borrower – say for a vehicle or home or just refinancing, this may be the best time ever
- Same with gas prices – demand down, particularly in Asia
- So, same supply, but lower demand, means lower prices
- Drivers benefit
- Could be temporary if oil/gas producers tighten up
- I’m MW
Mary: And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.