The Federal Reserve cut its key interest rate to near zero, a dramatic move not seen since the depths of the 2008 financial crisis.
It was the U.S. central bank's second emergency rate cut this month in an attempt to cushion the rapidly growing economic effects of the coronavirus pandemic.
The Fed also announced plans to buy $700 billion in government securities.
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And this is example of not letting a good crisis go to waste. Creating US Dollars from thin air to inflate the financial markets artificially.
ReplyDeleteInflate? You idiot. This is an attempt to avoid a depression.
DeleteGot that right - stop worrying about TP and start to think if this panic continues into a depression.
DeleteSoon people will be wiping their butts with money because it will be worth less than the toilet paper.
DeleteThe Fed purchased US Bonds as the buyer of last resort. There is no way the Government can sell a Bond right now. Do the Fed buys them which allows the Government to continue spending currency it did not have.
ReplyDeleteAll fractional banking systems fail. We might be there. We just went to zero interest rates. This virus might be a facade for what's really happening. The Fed has ran its course, there is no more room for quantitative easing. In the past fractional banking systems lasted for about 75 years, we are now over 100 years. 1913 is when the Fed did their power grab.
ReplyDeleteHuge mistake. They have no bullets left to combat what will get alot worse.
ReplyDeletePure stupidity on the Fed for becoming politcal by Trump.
What a mess of this country he has made.
Great. Trump is on a floating interest rate. HE will finally get what he has been trashing Powell about and save MILLIONS.
ReplyDeleteThe rich get richer
The Fed buying US Treasury bonds is circular-buying at its finest!! Maybe I should by my new truck now if I can get a .25% loan.
ReplyDeleteONLY for the Banks NOT YOU !!!!
ReplyDeleteBanks won't be giving You anything , let alone Zero % !!!!
ReplyDelete