Posted on 03/03/2020 7:10:27 AM PST by L,TOWM
The Fed said the “fundamentals of the U.S. economy remain strong” but that the coronavirus “poses evolving risks to economic activity.” Fed Chairman Jerome Powell will be holding a press conference at 11 a.m.
(Excerpt) Read more at finance.yahoo.com ...
Stocks erased early losses to turn solidly higher after the Federal Reserve delivered a rare, inter-meeting rate cut, dropping the range of its benchmark rate by half a percentage point. The Dow Jones Industrial Average was up 183 points, or 0.7%, at 26,886, while the S&P 500 advanced 27 points, or 0.9%, to 3,117. The Nasdaq Composite gained 51 ponts, or 0.6%, to 9,003.
So much for abruptly raising rates to tank the economy for the dems.
Time to warm up the helicopters? /Pinochet>
Cheap and easy money doesn’t get people out of a sick bed or quarantine to go to work or buy stuff...
85 people are sick, more people sick with the flu or common cold then the Chuckyvirus. We should name it after Chucky Cheese Schummer for criticizing the president over it.
_Somebody_ is panicking... :-)
I don’t know about that. Cash can cure a multitude of ills.
Good.
President Trump has rightly criticized the Fed the past few days.
This will bring the funds rate more in line with the market.
Cash can cure a liquidity crisis.
This is not that.
So why did they do it?
Cheap and easy money doesn’t get people out of a sick bed or quarantine to go to work or buy stuff...
...
No it doesn’t.
But this isn’t cheap and easy money.
The cut brings the funds rate more in line with the market. The Fed was manipulating rates to be above the market for way too long.
440,000 die a year from medical malpractice in the US, should we also shut down all the hospitals. This virus as it stands now and likely in the future is a small overblown blimp.
The rate cut will help the world economy and was needed.
Way to jawbone them, Mr. President!
Gosh, I hope they didn’t hurt themselves.
I fully expect some people on FR to start siding with the gun-grabbers because of all the people killed with them every month at this point.
“But this isn’t cheap and easy money.”
By historical standards we have had cheap and easy money for quite a while now.
Better late than never
By historical standards we have had cheap and easy money for quite a while now.
...
By the real standard, current market rates, that’s not true.
The “world” economy? Who gives sh!t about the world, I am only interested in the USA’s economy. If it helps the “world” too that would be a plus.
Why do it? Cause they have no other way.
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