Powell signals Fed is open to rate cut as coronavirus raises economic concerns

[bronxiteforever]

Business Insider

By Gina Heeb
Feb. 28, 2020, 03:42 PM

Federal Reserve Chairman Jay Powell sought to reassure businesses and investors Friday afternoon as concerns about the coronavirus continued to escalate.

In a brief statement, Powell said the fundamentals of the US economy remained strong but signaled that the central bank was open to a rate cut if necessary. Financial markets dropped sharply this week as the government warned the respiratory illness COVID-19 would likely spread through communities in the US.

... The policy-setting Federal Open Market Committee lowered its benchmark interest rate three times last year, bringing the target range to historically low levels of between 1.5% and 1.75%. Wall Street is pricing in a 100% chance that the FOMC will cut further at its next meeting in March, according to the closely watched CME FedWatch tool.

https://markets.businessinsider.com/news/stocks/powell-signals-fed-open-interest-rate-cut-amid-coronavirus-outbreak-2020-2-1028951053

[Wellstone ruled]

1. So,to help Wall Street

Powell once again screw Main Street. Appears the Buying in the last hour of today's market were Hedgies counting on a Interest break within in a two weeks.

All about propping up the Orange Anus.

[bronxiteforever]

3. +1 Everything is about his re-election.

The Country and it’s people be damned.

[Wellstone ruled]

4. And it started the day

his was Crowned King January 22 2017.

[bronxiteforever]

5. Absolutely

[durablend]

2. Because everyone knows

Rate cuts cure viruses