Economy 52,835 Posted March 4, 2020 Share Posted March 4, 2020 https://www.bnnbloomberg.ca/fed-cuts-rates-half-point-in-emergency-move-amid-virus-spread-1.1399384 The Federal reserve today lowered it's rate down 50 basis points to a range under 1.25% to help lower cost of borrowing in hopes of mitigating economic impacts of corona virus Canada which has the highest rate in developed world (1.75%) is expected to follow suit either this month or the next meeting after that The rest of Developed world including European Union, Britain, Swiss, Australia, Japan all have rates either around 0% and some even in the negative below 0% Link to post Share on other sites More sharing options...
gaganime 18 Posted March 4, 2020 Share Posted March 4, 2020 lol, again?? Glad my assets are in gold Link to post Share on other sites More sharing options...
AmericanxDream 2,049 Posted March 4, 2020 Share Posted March 4, 2020 Thanks Trump. Link to post Share on other sites More sharing options...
Economy 52,835 Posted March 4, 2020 Author Share Posted March 4, 2020 12 minutes ago, gaganime said: lol, again?? Glad my assets are in gold I thought about gold tbh but I didn't know how high the chances of inflation picking up were or that the fed would cut again and stop raising at 2.25%. I honestly thought theyd peak at least at 2.75% this business cycle In any case I became broke and had to sell my investments anyway so had I invested in gold I would have missed the rally last few months anyway Link to post Share on other sites More sharing options...
Economy 52,835 Posted March 4, 2020 Author Share Posted March 4, 2020 7 minutes ago, Oshawott said: Thanks Trump. Please don't even suggest it. Id hate to think him pressuring the Fed to lower rates actually played a role The degree of taboo in the business world for the thought of a Government interfearing or swaying a Central Bank which is supposed to be completely independent and free of political pressures so they can do their job of currency and price stability without making poor decisions to please short term political goals (which relates to Trump's repeated criticism of the fed telling them to lower rates) Other Central Bankers around the world in other Countries came to the defence of Jerome Powell (Fed Chairman) for not giving in to Trumps whimms The thought of a Government controlling a central bank is unspeakable. Its associated with extremely corrupt 3rd world Nations who have no stability or political ethics and associated with nations that ended up with hyper inflation and useless money as a result like Zimbabwe They can also be seen as currency manipulators and investors do not like even the thought of a government interfearing with central banks I think Trump has only gotten away with it so far cuz he's Trump. Ppl have become numb to his constant overstepping his powers and breaking rules (like tweeting jobs reports before official releases which is against the rules) that they take it less seriously than if it was any other president Link to post Share on other sites More sharing options...
gaganime 18 Posted March 4, 2020 Share Posted March 4, 2020 23 minutes ago, Oshawott said: Thanks Trump. Link to post Share on other sites More sharing options...
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