coronavirus pandemic
, the Fed on Sunday announced a 100-basis point interest rate cut, taking rates basically down to zero, their lowest since 2015. The central bank also unleashed a massive $700 billion quantitative easing program. Investors seemingly baulked at what could be seen as the Fed's last roll of the dice as fears of a global recession take hold, with Dow futures plunging more than 1,000 points to hit their "limit down" level. Meanwhile, cases in the U.S. and around the world continue to escalate.
Confirmed cases stateside now sit at 3,774, with 69 deaths, according to Johns Hopkins University, and New York City is now limiting restaurants and bars to takeout and delivery services. Auctions will be held Monday for $42 billion of 13-week Treasury bills and $36 billion of 26-week bills.
Yay more turmoil
Cnbc loves this picture
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Fed just cut rates to 0% — here’s what that means for mortgage ratesThe Federal Reserve cut its benchmark interest rate to 0% on Sunday — but don’t necessarily expect lower mortgage rates as a result. The Fed announced it... Why not? People has to find some savings and mortgage companies need to adjust to help them & establish long term relationships with barrowers. Lower mortgage rates are good now to increase buying and people spending. Remove the mandatory 20% down payment for the home and younger people will start buying homes. Think about all people not just 1%
Source: MarketWatch - 🏆 3. / 97 Read more »
Fed takes emergency steps to slash rates and ease bank rulesThe Federal Reserve took emergency action Sunday to help the economy withstand the coronavirus by slashing its benchmark interest rate to near zero and saying it would buy $700 billion in Treasury and mortgage bonds. The Fed’s surprise announcement signaled its concern that the viral outbreak will depress Yahoo That pretty much shoots their wad. If the economy goes to crap anyway . . . Yahoo
Source: YahooNews - 🏆 380. / 59 Read more »
Fed takes emergency steps to slash rates and ease bank rulesThe Fed’s surprise move to cut interest rates a full percentage point and buy $700 billion in Treasury and mortgage bonds signals that it will do all it can to counter the risk of the coronavirus outbreak causing a recession. How socialist. That’s not the signal; the signal is desperation & fear of Trump, financial responsibility be damned. But, but we need a recession to get rid of Trump cries the left🤣🤣
Source: AP - 🏆 728. / 51 Read more »
Fed Slashes Rates to Fight Coronavirus SlowdownBreaking: Fed cuts rates to near zero and will purchase $500 billion in Treasurys, $200 billion in mortgage-backed securities, citing economic disruptions from coronavirus Can’t go lower than 0 people, this is bad Zalim Milletler için yaşasın Corona 🇹🇷🇹🇷🇹🇷🇹🇷🇹🇷🇹🇷🇹🇷🇹🇷🇹🇷🇹🇷 ZIRP
Source: WSJ - 🏆 98. / 63 Read more »