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Thread: FED slashes to near ZERO!

  1. #1

    FED slashes to near ZERO!

    https://www.msn.com/en-us/money/mark...?ocid=msedgdhp

    WASHINGTON—The Federal Reserve slashed its benchmark interest rate to near zero on Sunday and said it would buy $700 billion in Treasury and mortgage-backed securities in an aggressive bid to prevent market disruptions from aggravating what is likely to be a severe slowdown from the coronavirus pandemic.

    “The coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” the Fed’s rate-setting committee said in a statement Sunday. “The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses.”

    Fed Chairman Jerome Powell is set to hold a news conference at 6 p.m.


    The Fed will buy at least $500 billion in Treasury securities and $200 billion in mortgage-backed securities over the coming months to help unclog markets that grew dysfunctional last week, the central bank said. It said it would initiate the program, called quantitative easing, on Monday.

    The Fed said it was activating with five other central banks, including the European Central Bank and the Bank of England, swap lines to smooth out disruptions in overseas dollar-funding markets, effectively encouraging foreign central banks to use existing facilities to supply dollars to their own financial systems.

    The central bank also announced a series of steps to boost lending, including by lowering the rate charged to banks for short-term emergency loans from its discount window to 0.25% from 1.75%. It said it would encourage banks to tap their capital and liquidity buffers to lend to households and businesses affected by the coronavirus.

    Write to Nick Timiraos at nick.timiraos@wsj.com
    When life itself seems lunatic, who knows where madness lies? - Miguel de Cervantes, (Don Quixote)

    Quote Originally Posted by Voluntarist View Post
    The tree of liberty must be refreshed from time to time with the Federal Reserve Notes of patriotic central banks



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  3. #2
    .25 percent for banks . Danke may be able to borrow some money at 4 percent from his bank while his company is shut down.

  4. #3
    INFLATION NATION

    On top of setting rates to Zero, the Federal Reserve also removed the requirement for banks to maintain any reserves. The set the bank reserve rate to ZERO.

    On top of the Fed's balance sheet laden with TARP, government debt and other junk, it will now load up with millions more of junk, only this time to include purchasing corporate debt.
    The Fed and the Socialist Trump administration is even promoting the Fed to start buying up company stocks - this is outright nationalization of industry.
    "Let it not be said that we did nothing." - Dr. Ron Paul. "Stand up for what you believe in, even if you are standing alone." - Sophie Magdalena Scholl
    "War is the health of the State." - Randolph Bourne "Freedom is the answer. ... Now, what's the question?" - Ernie Hancock.

  5. #4
    And Jerome Powell today proclaims "There is nothing fundamentally wrong with the our economy"
    "Let it not be said that we did nothing." - Dr. Ron Paul. "Stand up for what you believe in, even if you are standing alone." - Sophie Magdalena Scholl
    "War is the health of the State." - Randolph Bourne "Freedom is the answer. ... Now, what's the question?" - Ernie Hancock.

  6. #5
    "Let it not be said that we did nothing." - Dr. Ron Paul. "Stand up for what you believe in, even if you are standing alone." - Sophie Magdalena Scholl
    "War is the health of the State." - Randolph Bourne "Freedom is the answer. ... Now, what's the question?" - Ernie Hancock.



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