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Fed reserve cuts rate to zero

Discussion in 'General Discussion' started by Snattlerake, Mar 15, 2020.

  1. Snattlerake

    Snattlerake Sharpshooter

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    If you want to buy a house or car now is the time!


    The central bank said it will use its “full range of tools” to battle the economic impacts of the novel coronavirus and announced quantitative easing in the form of at least $700 billion of asset purchases. It also encouraged banks to provide credit to the economy by eliminating reserve requirements and allowing the financial firms to tap into capital and liquidity buffers.

    In a global effort, the Fed also announced standing U.S. dollar liquidity swap line arrangements in coordination with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank.

    “The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals,” the Fed said in a statement.

    The Fed said the coronavirus outbreak “harmed communities and disrupted communities in many countries,” adding that the U.S. labor market still appeared “strong” as the U.S. economy rose at a “moderate rate.”

    But the Fed on Sunday slashed rates by 100 basis points, less than two weeks after it had already made an impromptu 50 basis point cut.
     
    dennishoddy likes this.
  2. Iron sharpens Iron

    Iron sharpens Iron Marksman

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    As good as that sounds, this is a very bad sign. Our economy is spinning out of control and the government is trying to stop the bleeding in any way possible. The virus scare has the general public panicking which doesn’t help anything. I pray we get all this worked out and the unrest settles.
     
  3. tRidiot

    tRidiot Sharpshooter

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    I can't fathom someone going out and spending a large amount of money on ANYTHING right now. I'm serious, I expect the real estate and new car market to take a massive clobbering over the next couple of months. Consumer confidence has to be in the fecking toilet, in spite of interest rate cuts....
     
  4. Shadowrider

    Shadowrider Sharpshooter

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    Wife just got a call from Anderson windows. Zero interest, no down, no payments for....blah blah blah.

    She said we need to jump on this deal. I told her, "You see? This is why I'm in charge of the finances". I work in the oil patch. For the moment anyway...
     
    Gunbuffer likes this.
  5. SPDguns

    SPDguns Sharpshooter

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    BUY DOW JONES or any other stock you can. Buy it now.
     
  6. pstmstr

    pstmstr Sharpshooter

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    Because more debt has always proven to help both governments and individuals. If you don’t borrow money or buy things on credit the interest rate is always 0. Sometimes you even get this elusive thing called a cash discount.


    Sent from my iPhone using Tapatalk Pro
     
    dennishoddy, Tanis143 and Shadowrider like this.
  7. Snattlerake

    Snattlerake Sharpshooter

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    I told Edward Jones to buy!
     
  8. ignerntbend

    ignerntbend Sharpshooter

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    I've said it before:buy scratch tickets like all the other stupid people holding up the line at the convenience store.
     
  9. HMCS(FMF)Ret.

    HMCS(FMF)Ret. Sharpshooter

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    I wonder if this would be a good time to do a VA interest rate reduction loan?
     
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  10. pstmstr

    pstmstr Sharpshooter

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    Like my brother who has always been one paycheck away from disaster. He calls me when he wins which isn’t as often and the days he doesn’t call. He stopped calling me to borrow money. Some people are slowwwww learners. Some never do.


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