In its first emergency action since 2008, officials voted to immediately lower the fed funds rate by 50 basis points
‘The Fed’s Tools Are Imperfect.’ Why the Surprise Interest Rate Cut Can’t Fully Prevent a Coronavirus Downturn
Federal Reserve Chair Jerome Powell pauses during a news conference, Tuesday, March 3, 2020, to discuss an announcement from the Federal Open Market Committee, in Washington. In a surprise move, the Federal Reserve cut its benchmark interest rate by a sizable half-percentage point in an effort to support the economy in the face of the spreading coronavirus. — The Federal Reserve’s strategy to combat the coronavirus outbreak and its impact on financial markets and the longest U.S.
Rather, the shock is just how decisively the Fed chose to respond after signaling little urgency just a few days ago. As I wrote recently, a range of central bankers had been parroting the line that it was too soon to judge the economic fallout of the spreading coronavirus. The first question asked of Powell at his press conference on Tuesday was, “What changed?” He couldn’t really answer, other than “we saw a risk to the outlook for the economy and chose to act.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Feds Spent About $500k on Coveralls for Coronavirus PreparationHere's what Uncle Sam's spent thus on coronavirus-related matters.
Les mer »
'Disturbing' video: Feds under fire for scaring monkeys, damaging their brainsThe federal government has spent almost $100M on monkey brain studies since 2007, including $16M on tests in which scientists tried to scare the monkeys with rubber snakes and spiders — and lawmakers are demanding to know why.
Les mer »
Surprise Rate Cuts Are No Miracle CureThe Federal Reserve announced a rate cut Tuesday to help the economy in the fight against the coronavirus. But jdlahart explains why the central bank’s move is no miracle cure. WSJWhatsNow
Les mer »
Homebuilder stocks jump on Fed rate cut amid coronavirus outbreakThe homebuilders' ETF (ITB) is near the high of the session, up almost 2.3% and up 6.2% week-to-date.
Les mer »
Dow plummets despite Fed's emergency rate cut over coronavirusThe Federal Reserve announced a surprise rate cut of half a percentage point on Tuesday in an effort to mitigate the economic impacts of the coronavirus outbreak on the U.S. economy. Despite that emergency cut, the Dow Jones Industrial Average plummeted by 785 points by the time markets closed Tuesday
Les mer »