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Federal Reserve announces first
emergency rate cut
since the financial crisis

Original Article

Posted By: Ida Lou Pino, 3/3/2020 11:31:30 AM

The Federal Reserve slashed interest rates by half a percentage point on Tuesday, a bold attempt to give the US economy a jolt in the face of concerns about the coronavirus outbreak. It was the first unscheduled, emergency rate cut since 2008, and it also marks the biggest one-time cut since then. The new benchmark interest rate is 1% to 1.25%. Although the fundamentals of the US economy remain strong, "the coronavirus poses evolving risks to economic activity," the central bank said in a statement. Just last week, several Fed officials said it was too early to cut rates in the face of the global virus outbreak.

Comments:

Why in the world do we have a Federal Reserve System? It was a creation of the communist Woodrow Wilson regime - - and is about as useful as an inflatable anchor. Get rid of this inanity - - NOW!

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Reply 1 - Posted by: curious1 3/3/2020 11:57:46 AM (No. 335621)
What financial crisis? The market bounced around some and 10yr T-Bill interest rates were dropping. Whose ox was getting gored?
7 people like this.

Reply 2 - Posted by: IowaDad 3/3/2020 12:10:18 PM (No. 335647)
We do need the Fed. Without it, fractional reserve banking will either disappear or we will have bank failures every half generation. It works and our current prosperity depends on it. So, no need to complain!
1 person likes this.

Reply 3 - Posted by: HoodieJohnCrow 3/3/2020 12:18:03 PM (No. 335660)
From this sites Rules & FAQ: 'post only news articles, columns and commentary from legitimate, on-line newspapers, magazines and/or news websites.' Since Lucianne continues to allow posts from proven lying Leftist propaganda sites, like the NYTimes, CNN, etc., (even though they can be stopped clocks), I can no longer, in good conscience, consider Lucianne a legitimate aggregator of news, but rather an info-tainment clickbait saloon. See ya.
0 people like this.

Reply 4 - Posted by: rinohunter 3/3/2020 12:33:20 PM (No. 335685)
Touche (accent grav over the e)! no. 3. You've read my mind.
0 people like this.

Reply 5 - Posted by: Jesuslover54 3/3/2020 12:35:49 PM (No. 335689)
Phony reason! They have finally capitulated and given in to Trump's argument. We'll take it as a win.
1 person likes this.

Reply 6 - Posted by: kono 3/3/2020 5:20:06 PM (No. 335937)
Leave it to CNN to wax hysterical to every hint of possible trouble, and to exaggerate every bit of plausibly-bad news about PDJT. Fake news leaders.
1 person likes this.

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