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Fed cuts rates half a point. (Original Post) brokephibroke Mar 2020 OP
Link here from nyt lunasun Mar 2020 #1
no, but it will lessen the economic impact for businesses and some individuals Amishman Mar 2020 #2
I thought the US economy was the best ever brokephibroke Mar 2020 #4
The Trump economy is more of a C+ with a teacher note 'capable of doing better' Amishman Mar 2020 #8
+1, 750 million people in China were quarantined for weeks, I don't see how lowering uponit7771 Mar 2020 #10
Swell! Today I'm taking out an ultra-cheap loan and taking that Mike 03 Mar 2020 #3
Sweet! brokephibroke Mar 2020 #5
Darn right. Good idea! Mike 03 Mar 2020 #7
For trump's ego. Just caused the dow to go from -300 down to +80 spanone Mar 2020 #6
Short lived sugar high.....down -80 spanone Mar 2020 #9
Ha ha. The people with money (or supposedly so) seem to think throwing lower interest rate... SWBTATTReg Mar 2020 #11
Trump threatened them to do this duforsure Mar 2020 #12
It was a bad move brokephibroke Mar 2020 #13
Of course it'll be bad durablend Mar 2020 #19
As I noted elsewhere, my Mom just reinvested some CDs Maeve Mar 2020 #14
Get a better yield from utility stocks brokephibroke Mar 2020 #16
Yeah, but she is very conservative in her finances Maeve Mar 2020 #18
They used to call them brokephibroke Mar 2020 #20
Pushing on a string . . . hatrack Mar 2020 #15
I agree brokephibroke Mar 2020 #17
It's not doing much for the markets. Mike 03 Mar 2020 #21
1/2 point is most since 2008 Johnny2X2X Mar 2020 #22
Trump is probably screaming over the phone at Mnuchin or Kudlow Mike 03 Mar 2020 #23

Amishman

(5,556 posts)
2. no, but it will lessen the economic impact for businesses and some individuals
Tue Mar 3, 2020, 11:09 AM
Mar 2020

this gives a little breathing room for most everyone with variable rate loans (assuming they aren't indexed to LIBOR instead of a US rate)

Amishman

(5,556 posts)
8. The Trump economy is more of a C+ with a teacher note 'capable of doing better'
Tue Mar 3, 2020, 11:15 AM
Mar 2020

Rate cuts and other preventative measures might keep us from botching the final and ending up in summer school

uponit7771

(90,335 posts)
10. +1, 750 million people in China were quarantined for weeks, I don't see how lowering
Tue Mar 3, 2020, 11:18 AM
Mar 2020

... interest rates here will fix that

Mike 03

(16,616 posts)
3. Swell! Today I'm taking out an ultra-cheap loan and taking that
Tue Mar 3, 2020, 11:09 AM
Mar 2020

Asian cruise I've always dreamed of! Then I'll go to Costco, a concert, an airport, a movie theater, a convention and a soccer game!

SWBTATTReg

(22,114 posts)
11. Ha ha. The people with money (or supposedly so) seem to think throwing lower interest rate...
Tue Mar 3, 2020, 11:20 AM
Mar 2020

tidbits out is going to juice up the economy when people are afraid of the CV and thus, are taking simple precautionary steps, e.g., not going out as much, shopping a little less, not shaking hands as much, etc. Not panicking like rump is, because he is looking at this whole CV in one way only, his reelection. He doesn't care about the CV deaths, the pain and / or suffering, his top priority was get the economy going and seal his reelection chances.

What a joke. More concerned about money as usual. His money. I bet he's in debt up to his eyeballs and pays a fortune in interest charges so that's why he's been singing like a harpy for lower interest rates. Again, another gross personal conflict with the needs of the US, vs. his.

I remember the fear that dominated 2008 when wham, the stock markets and real estate markets went into a tailspin. And all of this occurred during the changing of the guard between newly elected Barak Obama and George Bush, jr. At least Mr. Bush, Jr. had the grace to involve the incoming president-elect in the dire economic matters going on in 2008.

I just hope that if and when something similar happens during rump's administration, that rump has the grace to be a dignified leader and handle the situation like a leader, and not point fingers at everybody else but him, like any spoiled brat would do.

However, I think that when the economic tailwinds finally drag rump down, he won't be graceful, he won't be an effective leader, he'll lash out at everyone right and left, and prove sadly why he's had 6 bankruptcies. The damage to our Country will be incalculable because how many deaths/cases of the CV could have been avoided if the rump admin. hadn't been frozen in its responses because of the fear of a backlash from rump? How many economic lashings will Americans absorb now because of his slow response time to the CV?

duforsure

(11,885 posts)
12. Trump threatened them to do this
Tue Mar 3, 2020, 11:25 AM
Mar 2020

And it'll only make the upcoming recession worse. I think he wants that to happen, while making his debt payments lower for himself. He's using our money now to prop up the markets to claim his economy is good, when it's not, and just like what W Bush did, but expecting something different from it. It's making the markets more venerable.

durablend

(7,460 posts)
19. Of course it'll be bad
Tue Mar 3, 2020, 11:45 AM
Mar 2020

If he wins reelection it gives him the excuse to cut more stuff (like SS)
If he loses he makes it so (whoever the winner is) won't be able to do much of anything ("look another do-nothing Democrat!" )

Maeve

(42,281 posts)
14. As I noted elsewhere, my Mom just reinvested some CDs
Tue Mar 3, 2020, 11:27 AM
Mar 2020

And was told that rates were going to drop. Her banker was right.

Fortunately, she could invest for 5 years; a lot of people haven't that luxury.

brokephibroke

(1,883 posts)
16. Get a better yield from utility stocks
Tue Mar 3, 2020, 11:40 AM
Mar 2020

In fact equities are almost the only option for any kind of a yield.

Maeve

(42,281 posts)
18. Yeah, but she is very conservative in her finances
Tue Mar 3, 2020, 11:42 AM
Mar 2020

And not always as knowledgeable as she could be--I had to explain to her one time that Goldman-Sachs was NOT the same as Sax Fifth Avenue
She doesn't trust financial advisors, either.

hatrack

(59,584 posts)
15. Pushing on a string . . .
Tue Mar 3, 2020, 11:38 AM
Mar 2020

And when the crash comes, this will leave the Fed with zero tools at its disposal.

Great work - really thought this one through!!

Mike 03

(16,616 posts)
21. It's not doing much for the markets.
Tue Mar 3, 2020, 11:54 AM
Mar 2020

They are whipsawing, with all the ecstatic gains of the announcement gone.

Market Summary > Dow Jones Industrial Average
INDEXDJX: .DJI
26,626.43 −76.89 (0.29%)
Mar 3, 10:52 AM EST · Disclaimer

Johnny2X2X

(19,059 posts)
22. 1/2 point is most since 2008
Tue Mar 3, 2020, 11:55 AM
Mar 2020

This was really a dramatic step and a sign that the Fed thinks the economy is in trouble.

Mike 03

(16,616 posts)
23. Trump is probably screaming over the phone at Mnuchin or Kudlow
Tue Mar 3, 2020, 11:57 AM
Mar 2020

asking why the market isn't skyrocketing in response to the historic rate cut.

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