Fed Slashes Interest Rates in Emergency Move as Coronavirus Fears Mount

By artappraiser on Tue, 03/03/2020 - 10:24am |

The Fed made an emergency rate cut, and the Fed will hold a press conference at 11 a.m. to explain it in more detail. Our (fast-evolving) story: https://t.co/dnd0LjSvmI
— Jeanna Smialek (@jeannasmialek) March 3, 2020

URL:

https://www.nytimes.com/2020/03/03/business/economy/fed-interest-rates-coronavirus.html

993 reads

Comments

Holy crap https://t.co/BVT7ZFzrih
— Kai Ryssdal (@kairyssdal) March 3, 2020

First 50 basis point cut since 2008. First emergency cut since 2008. But… This is not 2008.
— Kai Ryssdal (@kairyssdal) March 3, 2020

Markets are functioning. Liquidity is there. Credit is not tight. This is a supply shock. Not sure rate cuts can fix this. For tax cuts for that matter. https://t.co/kF555dU2j2
— Kai Ryssdal (@kairyssdal) March 3, 2020

On twitter too https://t.co/hBjjzZIFDh
— Kai Ryssdal (@kairyssdal) March 3, 2020

Also, are marginally lower interest rates going to make you more likely to go to a crowded restaurant right now? A busy mall? A sports stadium? I don’t know.
— Kai Ryssdal (@kairyssdal) March 3, 2020

Ha not ha. https://t.co/UI7EdbAwmj
— Kai Ryssdal (@kairyssdal) March 3, 2020

Thinking about starting an @dandrezner-like Toddler in Chief thread, but for the markets, because that’s what’s going on here. Markets had a hissy fit and the Fed has to soothe them.
— Kai Ryssdal (@kairyssdal) March 3, 2020

and just retweeted

“The liquidity hammer of 2009 is the wrong tool for a virus-shaped nail.”

AMEN. https://t.co/xmKU1mqlTx
— Megan Greene (@economistmeg) March 3, 2020

by artappraiser on Tue, 03/03/2020 - 10:30am

Fed Slashes Interest Rates in Emergency Move as Coronavirus Fears Mount

Comments

Sections

Bloggers