Surprise Rate Cuts Are No Miracle Cure

Maybe the best thing that can be said about the Federal Reserve’s interest-rate cut on Tuesday is that the central bank got it out of the way.

After all, with evidence piling up that the new coronavirus epidemic may represent the most serious threat the economy has faced since the last recession, and with economists repeatedly cutting their economic forecasts, a rate cut by the time of the Fed’s meeting scheduled for later this month seemed a done deal.

jdlahart It should help me build my house on the lake though.

jdlahart Wont help with the virus. Just screws the savers ... again.

jdlahart I’m surprised but it’s definitely needed right now.

jdlahart IMO, they should have kept their powder dry. Rates are so low already that shooting their wad before there is a real plan to deal with the virus will leave them with an empty toolbox.

jdlahart How much air can fit in one balloon?

jdlahart Well, yeah, what would have helped is making hysteria-spreading a criminal offense. We owe economic impact largely to mass-media and not to the virus itself.

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