WHITE HOUSE WATCH: STRUGGLING TO GET AHEAD OF MYSTERY CURVE
–Fed Half-Point Rate Cut, G7 Statement Can’t Turn Stocks Positive By Denny Gulino THE WHITE HOUSE (MaceNews) – Tuesday’s next step into the unknown was accompanied by major moves, from the credit markets to the Federal Reserve, and meanwhile the testing kits necessary to gauge the spread of the corona virus are closer to wide […]
STATEMENT FROM FED’S POWELL AT PRESS CONFERENCE AFTER RATE CUT
CHAIR POWELL. Good morning. Earlier today, the Federal Open Market Committeeannounced a 1/2 percentage point reduction in the target range for the federal funds rate, bringingthe range to 1 to 1-1/4 percent. My colleagues and I took this action to help the U.S. economykeep strong in the face of new risks to the economic outlook.The […]
Fed Statement on Emergency Rate Cut; Approved Unanimously
The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. In light of these risks and in support of achieving its maximum employment and price stability goals, the Federal Open Market Committee decided today to lower the target range for the federal funds rate by 1/2 percentage point, […]