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Fed slashes interest rates close
to zero, boosts assets by $700B
to fight coronavirus pandemic

Original Article

Posted By: MissMolly, 3/16/2020 4:23:46 AM

The Federal Reserve on Sunday slashed interest rates by a full percentage point to near zero and said it would buy $700 billion in Treasury securities, an aggressive step to insulate the U.S. economy from the coronavirus pandemic. “The coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” the Federal Open Market Committee said in a statement. “The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses.” The benchmark federal fund rate is now at a range of 0 to 0.25 percent, down from a range of 1 to 1.25 percent.

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Reply 1 - Posted by: DCGIRL 3/16/2020 5:46:19 AM (No. 347705)
Now's the time to refinance your home if you have a mortgage!!!!!
3 people like this.

Reply 2 - Posted by: GO3 3/16/2020 7:27:54 AM (No. 347754)
#1, we did. Recommend others look into it.
2 people like this.

Reply 3 - Posted by: F15 Gork 3/16/2020 8:43:57 AM (No. 347815)
Fed should have done nothing - they are now out of ammo
3 people like this.

Reply 4 - Posted by: stablemoney 3/16/2020 9:06:40 AM (No. 347836)
Only the government is stupid enough to lend money for nothing. When they reduce interest rates to nothing, a practical question might be why they loaned money to people that cannot pay it back? The government perpetually rolls their loans over, then lends more.
1 person likes this.

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