FOMC: Aggressive cut by 75bp to 3.5%
Overview: Today at 14:20 CET the Federal Open Market Committee (FOMC), announced that it was lowering the Fed funds rate aggressively by 75bp to 3.50%. This happened on the back of market speculation of inter-meeting Fed action during the day. TodayÂ’s action is indeed a signal that the Fed is very concerned about the economic and financial situation. Further, the fact that the central bank has acted so decisively just a week ahead of the meeting, may indicate that it has concerns about, not
Comments are off for this post