Jan 31
FOMC: Monetary easing on fast track
Overview: Following a two-day policy meeting, the Federal Reserve Committee(FOMC) decided last night to cut the fed funds rate by a further 50bp to 3%. This move was widely expected by the markets and among analysts. With yesterdayÂ’s action, the full amount of easing over the past eight days is adding up to a historic high of 125bp. This leaves little doubt that the Fed has put monetary easing on a fast track.